This stock has taken a beaten and is now trading on the bottom of a 3&6 month channel.It could make a sizeable bounce from here,I like the setup so far,one to watch.. ;)
Still selling here,no bounce yet..
Big range traded this morning,the close will be the key.Im waiting to see if this finishes as a long shadow Doji or Hammer on some strong volume,so far not looking that way but a few have bid it up from the lows.This may need more time..
Selling abated some yesterday closing with a Bullish Homing Pigeon,it opened positive..
Finally starting to see a bounce the past few days.If you pull up a chart from Bigcharts and enter "All Data" for the time frame,starting from its high back in 97 it corrected from 15 all the way down to the area of .75 on 6/26/02,from there it did roughly a 50% retrace all the way back up to 8,then it corrected again back down to the most recent low in the .30 range.So if the cycle repeats itself,I think it can bounce back a bit from here.. 8)
Chart of the short term most recent activity..
It's too early to tell but a 3rd wave may be getting underway on the daily chart.Had a typical large retrace for wave 2.If my analysis is correct there could be dynamic move over the next few weeks,watch for price, volume and momentum indicators for clues..
Starting to see the volume.. ;)
Prior pop in Dec. failed to develop into an uptrend.Started to take notice again after the most recent move on 4-10.Gonna watch it for now to see how the volume behaves,still fairly low but the trend might be improving.Weekly indicators are finally showing improvement.Daily indicators are looking good as well,so we shall see if MDWV can reclaim some lost ground here.
Daily chart