Medical Marijuana Inc (PINK:MJNA) Down as Expected

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Las Vegas, NV -- (SBWIRE) -- 02/07/2013 -- Medical Marijuana Inc (PINK:MJNA) fell in its last trading session by 11.07 percent to $0.273. Strong trading figure was also seen at 26.12 million shares as compared to its average traded volume of 15.32 million shares per day.

Correction in shares of Medical Marijuana Inc was expected as the stock reached near its resistance level of $0.50 in last week. The share price reached its highs in reaction to boost in all cannabis stocks. Investors also seem to find interest in marijuana industry which believed to be on its prime growth stage.

Now the question is how much fall is expected in the share price of MJNA. The stock has seen it’s lowest of $0.02 in last 52 weeks which can also be taken as its strong support level. On the other hand before the rally the share price maintained its price around $0.1 for three months. On the basis of that the first support level for the share price is taken around $0.1 to $0.08 and if it crosses that then it’s next support could be found at $0.02.

To find out what OTCMAGIC projects for Medical Marijuana Inc for both short term and long term please click here: MJNA

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