Stock made a double top but higher resistance level is $ 9/sh. If you have for example 1000 shares take 1/2 off now and target the rest for $ 9/sh. Your main stop should be brought up to $ 5.50/sh. Or leave stop at $ 5.50 and target $ 9/sh if you have 100 shares.
This stock is garbage. 18 million float and it traded 60K shares today. Plus, it has an earnings report next week. Better to take your money out and go to a casino because this one is nothing more than gambling. It reminds me of a little piece of junk named WAVX. I never count "previous resistance" while a stock is on a downward trend. Those little hooks up on downward trends are nothing but that... Hooks. This stock had it's day, has low volume, and has nothing on the horizon other than a possible miracle earnings report to take it higher. Get out.
"For the third quarter of 2013 the Company reported a net loss of $6.14 million or $0.33 per share, compared with a net loss of $3.03 million or $0.25 per share for the third quarter of 2012. [snip] For the nine months ended September 30, 2013, the Company reported a net loss of $11.92 million or $0.68 per share, compared with a net loss of $12.69 million or $1.20 per share in the comparable 2012 period." http://finance.yahoo.com/news/medgenics-reports-third-quarter-financial-133200746.html For those of you who might be wondering what's next for a company who consistently loses money, they'll probably be oh so generous and offer more shares to fund their existence. This elevator is going down to the basement.
Guess who's selling their shares... Medgenics Reports Sale of Common Stock by Director http://online.wsj.com/article/PR-CO-20131204-906048.html Medgenics Announces Director Enters into Stock Trading Plan and Change of Adviser http://www.heraldonline.com/2013/12/24/5530949/medgenics-announces-director-enters.html They can't wait for you to buy them.
finally looked at fundamentals, and this company is not profitable at all! i hope he sold or sells asap...also, modified head and shoulders says $4 up next, another 33% drop
================= Good points; and even worse if one makes money with a garbage penny stock. Now [ a profit with penny stocks] ,,that could promote the illusion one predicts some thing with penny stocks ,LOL
For some unknown reason, it's back up to $6.68. It even broke above the moving averages. Buuuut... the MACD is rolling over, the STO is peaked out, and the RMI and RSI are ready to drop. Plus, it just hit its head at that $7 mark and failed to break through. Again. Wanna make money on this one? Short it! (days to weeks, nothing long term)