MED - Merlin Diamonds

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Merlin Diamonds Limited (MED) was formerly known as North Australian Diamonds Ltd (NAD).

Previous discussion of this company can be found in the NAD thread: https://www.aussiestockforums.com/forums/showthread.php?t=1959

 

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Merlin's spell didn't save Joe Gutnick from bankruptcy.
Will his brother Mordechai get luckier?
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01807961

The chart does look interesting, and if 1.9c holds support, we could see a price spike commensurate with today's volume spike. Very speccy, so DYOR. I bought a small parcel.

 

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Nice rally going on in MED today, what is up with that?

 

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The last cap raising was pitched at 1.3c
Nice quick profit, if you can move the price a little.
Normally, I ignore funnymentals and go by the chart, but I do reduce my risk tolerance when I smell something ... or when I sense that ASIC might sniff a smell ...

 

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back below spp pitch

doesn't look very promising. Maybe they should take a leaf out of Pnina's (QBL) book and go the potty route? Otherwise, the weekly chart bears a striking resemblance with KDL's.