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Saturday, August 19, 2006

Midas

Listed since 23 February 2004 on SGX Sesdaq, Midas Holdings Ltd is a manufacturer of aluminium alloy extrusion products and polyethylene pipes.

Technically, Midas has touched the all-time price of .975, and is now at a crucial point. Will it breakout of the all-time high or will it retrace back its recent rise? RSI is at the overbought region, however it has not turned down yet. Watch the .95 region; if broken, price may retrace back to support at .85 region. Next support at .76.

1 comment:

TopTrader said...

The major manipulator of this counter is likely to do a false breakout to attract the crowd to buy so that he/she can sell as many as possible. He/ she has made too much. Current price is not supported by its value. Too rich. Avoid.