MMED lukewarm. Looking for new confirmation.
A friend mentioned this stock to me so I charted it.
I don't know the fundamentals.
On one hand I like the accumulation pattern. On the other hand, I don't like the weak volume on the local high but at least I don't see bearish divergence on RSI. I also think the whole market is cooling off a bit.
Stop losses in the red zone if it falls through support. If it starts looking really froggish below the next resistance line, I would use a judgement call to possibly front run the breakout, risking an instant reversal and big losses. That would require some very positive fundamental analysis as well as technicals on steroids.
I'm not sure about the XABCD pattern.
I'm going to wait for confirmation of the next trend.
If you're a fan of this stock, or if you don't like it please tell me why.
Please give me a like and a follow, and check out my other charts.
I don't know the fundamentals.
On one hand I like the accumulation pattern. On the other hand, I don't like the weak volume on the local high but at least I don't see bearish divergence on RSI. I also think the whole market is cooling off a bit.
Stop losses in the red zone if it falls through support. If it starts looking really froggish below the next resistance line, I would use a judgement call to possibly front run the breakout, risking an instant reversal and big losses. That would require some very positive fundamental analysis as well as technicals on steroids.
I'm not sure about the XABCD pattern.
I'm going to wait for confirmation of the next trend.
If you're a fan of this stock, or if you don't like it please tell me why.
Please give me a like and a follow, and check out my other charts.
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