Picked up some MDCI today

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December 1, 2005

Medical Action Industries Inc.

I decided to purchase some MDCI – Medical Action Industries, Inc. this afternoon. This company I’ve traded before a few years ago.

The charts and price action appear to have matured to a point where big money is finally interested.

This stock is a nice play in a sector not responsible for the recent general market rally.

Some technical notes:
The chart shows a very large weekly cup and handle pattern dating back to 2001.
The daily chart also shows a decent cup and handle on its daily chart and we are currently in the end of the handle.
Pennant can be seen on weekly chart (smush it together).
Ascending triangles too.

Valuation looks good for this stock too. I expect a breakout within a month.