Midas

 

On Monday, Midas re-test the support at $0.49 and closed at $0.49 with LOW volume of 6.18 million shares traded.

Both RSI & MACD are flat as RSI trend sideways.

Important Resistance of Midas: $0.52

Immediate Support of Midas: $0.49

Currently prices are resisted by 50 days MA at $0.49.

Since Jul/2012, Midas has been well supported at the 200 days MA.  In fact, prices have re-bound against this support on 14/May.

The support at $0.46 (200 days MA) is expected to be strong.

If interested in Midas, do consider buying if prices pullback to $0.46 (200 days MA) level and cut loss once this support breached with high selling pressure

Important News

Overseas Union Enterprise Ltd. (LJ3.SG) has started testing investor appetite for an initial public offering of a real-estate investment trust that is expected to raise as much …