The last investor alerts for MDMN stock were sent out at the end of July and they revived the shares, providing for support levels. On Friday, without alerts and with no press releases made by the company ever, MDMN share price jumped another 7.45% to close at $0.0375. The resistance from the end of July was broken and the 8.62 million share volume all suggest that the speculative pink sheets stock might gain more traders in the coming days.
MDMN has been described on its official corporate website as an emerging mining company, holding a “100% interest in a very prospective mining claim group located 25 miles northwest of Santiago, Chile”. Without any SEC filings, however, the business and its result should be considered a mystery by investors who prefer to consider only reliable and provable facts.[BANNER]
Along with the good technical indicators, it seems that some vague joint venture rumors have been spread in online message boards and chat rooms since the beginning of August, attempting to make the stock look not only as a one-day profit opportunity, but also as a good stock to hold on the long-term.
Though, as already mentioned, there are no confirmed facts whatsoever that could make a long-term gainer out of MDMN, especially after the traders have taken their profits from the bullish MACD, RSI and Accum/Dist, all pointing straight up currently. In addition, from the total 8.62 trading volume on Friday, 4.7 million shares were sold short.
