Medinah Minerals (MDMN)

[Medinaminer]

Rick,

Ok. One thing I omitted from my comments yesterday is the unmistakable head and shoulders pattern.

I was too frustrated to even ask you for your take on the chart pattern that was signalling the move to the lows we saw today.

Question now is to you Rick. If you don't mind offering the answer: Did the sell off today violate the neck line.

IMO we had a clear head and shoulders pattern on the daily chart. With the recent highs as the head and the price action prior to the highs and the recent right shoulder pattern. At least, that's how I saw it. If I am wrong please correct me.

I think with the hammer today, we may be looking at trading reversal from the recent oversold levels.

Not too many pink stocks show this type of a "predictable" price action. As deadjim was alluding to last week or so, this is a remarkable chart for a penny stock.

If I knew nothing of the MDMN fundamentals, this chart does provide some guidance as to the next move. And, yes if in deed the chart showed us the head and shoulders pattern, then today's action was in line with the fulfillment of the pattern signals. Although, I must say, I was not anticipating such a precipitous drop as we did today. I thought we may have a slow trickling death down to the $.09-$.10 levels.

Would you post your chart analysis at this point. I would be appreciative.

TIA