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Midas Stock Study

Posted by ekomuwa at Jun 25, 2014 8:08 AM | Report Abuse
11 comment(s). Last comment by ekomuwa at Jul 16, 2014 7:55 AM
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Woon Chen Hoong
1 post

Posted by Woon Chen Hoong > Jun 25, 2014 11:51 AM | Report Abuse

how :@@


samuelx
7 posts

Posted by samuelx > Jun 25, 2014 2:26 PM | Report Abuse

Still vested. i think it will be a matter of time before good news come in.


dicklinglk
19 posts

Posted by dicklinglk > Jun 25, 2014 11:22 PM | Report Abuse

Looking at mid to long term.


ekomuwa
41 posts

Posted by ekomuwa > Jun 26, 2014 8:32 AM | Report Abuse

short term will this stock test the support at 0.425 and then rebound?


ekomuwa
41 posts

Posted by ekomuwa > Jun 27, 2014 7:56 AM | Report Abuse

On 26 Jun 2014,
opened 0.44, high at 0.445, low at 0.435, closed at 0.445, short term may test 0.45/0.455, if cannot break out/up, then I expect this go south, I am see the next support still at 0.425....very bearish I felt for this stock....will 0.425 a good entry point to buy???


ekomuwa
41 posts

Posted by ekomuwa > Jul 1, 2014 8:36 AM | Report Abuse

On 30 Jun 2014, this stock opened 0.44 and closed at 0.435 with 1.315M changed hands. Whole day transaction was bearish...maintained the view that this stock should move toward 0.425 where the strong support is there....trade/invest prudently..


ekomuwa
41 posts

Posted by ekomuwa > Jul 2, 2014 8:22 AM | Report Abuse

On 1 July 2014, this stock formed a gravestone doji with low vol transactions (1.224M changed hands). Opened 0.435, high 0.440, closed back at 0.435. No much interests in the market to trade?? However, sentiment was a bearish....wai and see where it heading...My view was that buyer may try to push it back to above 0.445, otherwise, it will head south to rest at 0.43 or 0.425....trade / invest prudently....


ekomuwa
41 posts

Posted by ekomuwa > Jul 3, 2014 8:30 AM | Report Abuse

2 July, Midas opened 0.44, closed 0.435, with 2.649M changed hands, this counter still under selling pressure.....note that there were higher Vol compared to the last 2 & 3 days, clearly there were more people to unload this stock....trade/invest prudently....


ekomuwa
41 posts

Posted by ekomuwa > Jul 4, 2014 8:43 AM | Report Abuse

Midas had been traded between 0.435 & 0.44 for the past 5 days.....bearish sentiment was felt...however, will the non-farm payroll that lifted the US market yesterday be felt here to STI today? will such sentiment over-spill to midas as well....wait and see today how it go....


ekomuwa
41 posts

Posted by ekomuwa > Jul 14, 2014 8:08 AM | Report Abuse

If you study the price chart of Midas, you will notice a descending triangle is forming, such trend started on 28 Jan 2013 with a high at 0.58 cts, then experienced lower highs at 20 Feb 13(0.575), 27 Mar 13 (0.55), 20 Aug 13 (0.54), 7 Jan 14 (0.525), 9 Apr 14 (0.495), 29 Apr 14 (0.48), 10 Jun 14 (0.465), 8 July 14 (0.455). Last Friday, it experienced a strong buying with 5.02M changed hands, movement hovering 0.435 and 0.445 (opened at 0.44, low 0.435, close at all day high of 0.445). Now world cup over, the punters should come back to stock market. Let see if this stock moves up to test the resistance at 0.45?? otherwise, it will go south toward 0.425....do your homework and rtade/invest prudently.....


ekomuwa
41 posts

Posted by ekomuwa > Jul 16, 2014 7:55 AM | Report Abuse

short term situation.....buying interest at 0.44, may want to drive down by buyers to 0.435 to maximize potential profit, resistance at 0.455. If we have a much stronger buying interest, then this may break 0.455....if Midas can hold above 0.455, then it breaks the descending triangle resistance line and will go north.....do your own homework and trade/invest prudently.....

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