Penny Stocks On The Move: (PINKSHEETS : MJNA), (PINKSHEETS : PWEID).


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PK:MJNA / PK:PWEID
11/29/2012 [ACCESSWIRE]

New York – Medical Marijuana Inc. (PINKSHEETS: MJNA), a company engaged in medical marijuana and industrial hemp markets, is down sharply in mid-day trading today, extending its losses from the previous trading sessions. MJNA is currently trading 5.88% lower at $0.0800 on volume of 4.43 million. The stock has fallen more than 23% in the last three trading sessions.

The volume activity from the last one week suggests that the market sentiment is currently bearish on MJNA. This is confirmed by the stock’s MACD chart. The MACD is currently trading well below the signal line, which is a strong sell signal. The MACD histogram is also indicating increasing downward momentum. MJNA has fallen below its 50-day moving average.

MJNA has been falling even as the company announced that its President will host audio interview to discuss third-quarter results and market opportunities.

Find out when could be the best moment to trade MJNA by reading the free trend analysis report here: http://www.wallstreetreport.net/market-scan/?symbol=MJNA

PacWest Equities Inc. (PINKSHEETS: PWEID) is another major loser on the OTC market in mid-day trading today. PWEID, in fact, has been under selling pressure in previous trading sessions. PWEID is currently trading 16.67% lower at $0.136, extending its losses to more than 78% in the last three trading sessions.

PWEID has fallen sharply after hitting $0.80 resistance level. The stock is now trading well below its 50-day moving average, which is a bearish signal. PWEID could continue to slide before finding support at around $0.10.

PWEID, which is engaged in acquisition and management of industrial, commercial, land and residential real estate assets, earlier this month announced that it plans to team with K. Hill Livestock for distribution rights for Hawaii in a deal worth up to $12 million in annual sales.

Find out more about PWEID by getting the full trend analysis report here: http://www.wallstreetreport.net/market-scan/?symbol=PWEID

 

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