Shares & Derivatives
Stock Chart: Midas, Genting SP!
By Dou  •  March 1, 2011

On Tuesday, Midas re-tests the resistance at $0.79 and closed at $0.785 with HIGH volume of 26.51 million shares traded.

Separating lines occurred.  If the lines occur during an uptrend and the first line is black and the second is white (which is the case with MIDAS HLDGS LIMITED) then this suggests that the uptrend should continue.

Both RSI & MACD are turning bullish as RSI perform a sharp tick upwards.

Important Resistance of Midas: $0.79

Immediate Support of Midas: $0.73

Currently prices are well below 20/50/100/200 days MA.

After the recent heavy selling, prices rebounded from the support at $0.73 and re-test the resistance at $0.79 with heavy buying pressure.

However prices continue to stay under the falling trend line and investors took profit on today’s strong rally.

Due to recent bearish trend, we would suggest to wait for $0.79 ...

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By Dou
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