Sotck Chart: Midas!

Midas

 

On Friday, Midas broke the support at $0.515 and closed at $0.505 with LOW volume of 8.69 million shares traded.

Both RSI & MACD are bearish as RSI trend downwards.

Important Resistance of Midas: $0.515

Immediate Support of Midas: $0.49

Currently prices are supported by 50 days MA.

On 22/Feb, Midas gap down and undergo heavy selling pressure. Although the selling pressure did not continue in the next day but this is bearish signal.

The resistance at $0.535/0.515 is expected to be strong.

It is important to note that prices have been well support at the 100 days MA since July 2012. Thus consider to buy at the 100 days MA if the prices pullback to that level.

Sotck Chart: Midas! is contributed by : Singapore Stock Information Exchange

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