One of the few stocks on my stalking list this week is $MDF. I had noted in my Trading Journal that I am looking for a Breakout over the $8.8 level. However, today I have been watching the 5 minute chart and see the following:
Price has tested the low from yesterday and has mildly bounced. The Accumulation/Distribution indicator is hovering near the 0 line (a key buy/short point I use often). The 20 Simple Moving Average is currently resistance for price.
So, has the opportunity changed from a Breakout play to a bottoming play? Dip Buyers show up here? As I see frequently see from @daytrend “your money, you decide”. Indeed.