Shares & Derivatives
Stock Chart: Midas, StraitsAsia!
By Dou  •  August 2, 2011

On Tuesday, Midas re-test the support at $0.55 and closed at $0.55 with HIGH volume of 18.82 million shares traded.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Both RSI & MACD are bearish as RSI in oversold region.

Important Resistance of Midas: $0.60

Immediate Support of Midas: $0.55

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

Midas has been falling forming a lower high and lower low since Jan 2011. This affirms to a long term bearish trend.

In fact, prices attempt to break the critical support at $0.55 with high volume today.

Watch this support at $0.55 if vested since it will trigger more selling once breached.

On Tuesday, Straits Asia broke the support at $2.99 and closed at $2....

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By Dou
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