Medical Marijuana Inc (MJNA)

[nopancakemix]

Yesterday's candlestick makes drop to .18 more likely.

There is a wee unclosed gap at .17 from the end of January, as well as one at .09 from Dec 12. It looks like the "bearish engulfing candlestick" from yesterday pretty much confirms the recent downtrend. Typically MMJ stocks tend to peak in Feb / Mar and sink throughout the rest of the year making for a great year end buy.

There are several catalysts that could break the downtrend, AG Holder easing federal position on MJ, 1st ever US Denver Cannabis Cup, upcoming earnings report, uplisting, but I'm still seeing short term bearish, and long term bullish.