Medical Marijuana Inc (MJNA)

[Alan Brochstein]

Falling highs and falling lows for now. My .05-.06 is a fundamental valuation call and not a chart-read though. The stock was very oversold, enough that I posted it would likely bounce after breaking .10. One doesn't have to be a genius to have expected a bounce.

Only time will tell if .095 was THE low. In my opinion, it won't be, but that's just my opinion. I don't think that the bounce has ended the trend. I think that the bounce from .18 in February back to .35 is a good sign that calling a trend change prematurely is dangerous.

It would probably take a break of .20 to make me question my view that this stock is in a downward trend. The moving averages rolled over, and we are below the falling 50dma. People have lost interest - too many were burned. The volume even at the blowout last week was way below the April reversal.