MDI, Major Drilling Group update

Then, Dec. 6 2011, and now charts;

mdi dec 6 2011mdi jun 9 2013

See previous blogs. Despite a minor initial error with regard to where the B wave ended, the stock has followed the script nicely. Short-term things are not that clear;

mdi jun 9 2013 s

As we are not sure where the large B-wave terminated it is hard to determine where it will go from there. Perhaps an irregular a-b-c for wave c. The last part should still subdivide in 5 waves, either without overlap (green) or as a diagonal (black). Given the strength in the RSI and MACD we would prefer the diagonal.