Medinah Minerals Inc (PINK:MDMN) sank down by 19% to $0.109 yesterday on a volume which was lower than the average value.
As it was mentioned before on pinkinvesting, MDMN had “hit the resistance at $0.15 three times”, which suggested a change in the course. The change took place immediately the next day when MDMN started slipping down. The downfall continued the following two days, and yesterday MDMN broke the support and returned to the $0.1 line.[BANNER]
The diminishing interest in MDMN was suggested by the retracted volume and sideways trend during the whole month. This setting was caused by the lack of any news from the company for the last two months, which practically put the stock into slumber.
The last financial reports of MDMN showed that the company’s loss had more than doubled since last year, which could have repelled investors, as well.
That being said, it seems that the time has come for investors to refresh and revise their view of MDMN. Especially now that the stock is at the threshold of major technical changes.
