MDFI - Medifile International is making a strong upward move today towards .01 as penny stock traders continue to exploit the recent upward trend. Over the last two weeks MDFI has established a series of small moves upward as shown by the chart. Recent trader interest was sparked at the beginning of April when the company announced a 839% increase in revenues for year ending in December 2010. On April 12 the company announced that President, Chairman and CEO, Kevin Hauser had increased his equity ownership stake in the company from 1.1% to 9.8% .
Penny stock traders and long term investors appear to have reacted favorable to these recent news events by pushing the stock up higher over the last two weeks and look to push the stock through the .01 area if buying pressure continues. MDFI has traded over 57 million shares going into late afternoon trading. Penny stock traders wishing to jump in for a trend continuation trade should wait until .01 gained and established as the new area of support.