Replies to post #112343 on Medical Marijuana Inc (MJNA)

[Mkoch3]

This chart is amazing to look at, it's like they are handing out money

[Det_Robert_Thorne]

That chart doesn't show the 10-day MA

The problem with that chart is that it doesn't show the 10-day MA, and because it also doesn't show Bollinger Bands, the 20-day MA as well.

The chart I've included shows both of those, plus the 100-day MA.

You'll notice that even after Tuesday's news, the stock price never closed above the 10-day MA, and in fact, hasn't done so since mid-April.

NOTE: Edited the above sentence to change "never exceeded" to "never closed above", as the Wednesday high was indeed above the 10-day MA, though it fell below it at the close.

You'll notice too, that both the 10-day and 20-day MAs have 'Death Crossed' the 100-day MA.

It's possible that if the price can hold $0.18 for a few days, we'll see the price exceed the 10-day MA for the first time in nearly a month.