MJNA continues its course back to its long-term trendline at .20
MJNA's longterm uptrend line started Aug 2012 and the last time that MJNA's share price touched it was mid-January. You will need to use another charting site to see this, yahoo charts are lacking.
Now it appears that MJNA's share price is gravitating back to that major uptrend line for the SEVENTH time. That's right, MJNA has already retouched the trend line six times before.
Presently the trend line is at .175.
But due to timing factors MJNA isnot expected to reach it until it has risen to .19-.20.
I have been wrong before.
However, there is no denying that MJNA has been following and retouching that major uptrend line since Aug 2012.
Everlongs, brace yourself for a probable 30% paper loss in the next 2 weeks.
Then think about accumulating more shares @ .20 or
If you rely on the hopium that you will get shares for .20 or less, you will probably miss out on the run to $2.00. Twenty cents is a 60% discount from the high of .50, and fibonocci analysis says that is highly unlikely. Yes, there could be some panic selling based upon malicious rumors, but we have already had that, and that is why this is the low .30's is a very good entrance point. I bought more shares yesterday, very pleased to get them for .285. They were only in the 28's for a short period of time, when saavy buyers, such as myself, moved in. I am ready to add to my position in the event we see another drop in the twenty somethings, but doubt I will get a chance.
Funny ..I agree with both Blue and Chess... What's .10 when you both agree it will be on an upward trend.... I tend to go with the lower number though... My reasoning is Doubt can play a bigger role than people think and charts go out the door and are more sever....
I show that .20 is on the 62% fib retrace.
i use stockcharts for charting.
please view and tell me what you think pre your inspection.
to look at my chart, type the link to stockcharts as below. (note: the "* "in ht*p should be "t")