Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

That's an interesting video, Claytrader

Are you the chartist in the video?

I've generally thought that those videos are interesting, as well as being somewhat applicable, but I'm not sure if I agree with the current analysis.

IMO, the 10-day MA has been the resistance level until just a few days ago, and while the 200-day MA may have provided a support level a few days ago, I don't think it was the reason why $MJNA bounced so strongly on April 30.

Instead, that bounce was due to the company's shareholder update letter, which seemed to counter a lot of the negative articles about the company. Even then, however, on May 1, the stock price peaked when it hit the 20-day MA, then closed below the 10-day.

The stock continued to remain under the falling 10-day MA until the price hit the rising 200-day, at which time it bounced, but for a couple of days, remained below the 10-day.

Two days ago, in anticipation of today's quarterly report, the stock price closed above the 10-day for the first time in a month, but with today's report, closed at $0.1724, which is slightly below the 10-day MA of $0.1729.

Barring some dramatic news tomorrow, I think that the 200-day MA will again be tested.