Looking at the chart, note tat the 25ema had been providing very strong support so far but if broken, next support is the 65ema.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to rate it as "bad post",

accumulating for yourself "bad" karma.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view n I may be right or wrong, so dyodd.

richtan      ( Date: 16-Jul-2009 02:14) Posted: Below is my daily chart analysis for sharing and exchange pointers. My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.   If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments. This is only my view n I may be right or wrong, so dyodd.

Looking at the chart, note tat the 25ema had been providing very strong support so far but if broken, next support is the 65ema.

Hi fartist,

As a TA practitioner, we have to look from all angles, eg

(1) Line chart (easier to see the reversal and continuation pattern of wedges, triangles, flag and pennants, support, resistance, higher highs n higher lows or lower highs n lower lows),

(2) Candlesticks (to look out for candlesticks reversal candles pattern, candlesticks continuation pattern),

(3) daily charts, weekly and monthly chart.

Hope my reply helps

Hi fartist,

Yes, it is forming higher high n higher low albeit 2 black candles ( a shooting star n today's spinning top) n a doji from Fri till today n rise on decreasing volume, so I expect a pullback, probably to the 15ema or 25ema.

Looking at the chart, note tat the 25ema had been providing very strong support so far but if broken, next support is the 65ema.

Hi ronleech,

Midas has got extremely good FA , with so many contracts being awarded, with more to come.

So, there is no worry, it is a matter of time tat it will break above 90, although it anturally will have corrections n profit-taking, which are good buying opportunities if u know how to spot buy signs in TA, though TA is not infallible, thus also must set stop-loss. 

Timeline of Midas developments:

13/Jul/2009  

NEW RELEASE

- MIDAS SECURES ADDITIONAL FABRICATION CONTRACT WORTH RMB48 MILLION

10/Jul/2009  

+ DMG, Maintain “BUY”, TP “S$1.04”, based 18.8x FY09/10 earnings.

Highlights from DMG, “Within a span of less than three weeks, Midas announced that it had clinched several projects wins worth a total of Rmb1.0b, almost twice the amount of its previous order book of Rmb517m as of end-1Q09. Nevertheless, as we understand from management that some of its previously clinched contracts would be fulfilled in 2Q09, we estimate its order book would currently stand at around Rmb1.4b.”

09/Jul/2009  

NEWS RELEASE

- MIDAS AWARDED PRESTIGIOUS INTERNATIONAL RAILWAY INDUSTRY STANDARD (IRIS) CERTIFICATION

- Midas is extend thier footprint in the global rail transportation arena

08/Jul/2009  

+OCBC, Maintain “BUY”, TP “S$0.90”, based on 16x FY10F EPS.

Highlights from OCBC, “Midas Holdings (Midas) have made several announcements on contract wins amounting to the tune of about RMB1b in a span of three weeks. All the projects involve repeat customers, Tangshan Railway, CSR Zhuzhou Electric and CSR Changchun Railway, authenticating its historical consistency in performance. Midas will supply aluminium profiles for 2824 cars with the final deliveries made in 2H11. Management has indicated that the contracts will have positive impact on its financials from 2H09 - 2011.”

06/Jul/2009  

NEWS RELEASE

- MIDAS CLINCHES FOUR CONTRACTS WORTH RMB86 MILLION

01/Jul/2009  

+DBS, Maintain "BUY", TP "S$0.93", based on 15x FY10 earnings,

Highlight from DBS research.  "...This could lead to both revenue and margin expansion, as downstream fabrication typically has higher margins. Currently, we have not factored in any contributions from its downstreamfabrication business...".

01/Jul/2009  

NEWS RELEASE

- MIDAS ANNOUNCES FORAY INTO DOWNSTREAM FABRICATION WITH TWO CONTRACTS WORTH RMB73.8 MILLION.

25/Jun/2009  

NEWS RELEASE

- MIDAS SECURES A RMB70 MILLION CONTRACT FOR ANOTHER INTER-CITY HIGH-SPEED TRAIN PROJECT.

23/Jun/2009  

+DBS, Target price raised to "S$0.93",

as we roll over to 15x FY10 PER, Maintain BUY, from DBSV.

22/Jun/2009  

+Kim Eng, Maintained its "Buy" rating and raised its TP to "$1.00".

22/Jun/2009  

+OCBC, Maintain "BUY" rating and fair value of "S$0.85" (Kelly Chia).

Midas Holding: Wins another RMB172m in contracts, from OCBC.

22/Jun/2009  

NEWS RELEASE

- MIDAS SECURES TWO ADDITIONAL CONTRACTS WORTH RMB172 MILLION FOR INTER-CITY HIGH-SPEED TRAIN PROJECTS.

17/Jun/2009  

+DMG, Maintain "BUY" with TP of "S$0.855" under review.

Midas Holdings: Secures contracts worth Rmb603m, these two contracts are expected to be earnings-accretive for 2H09 to 2011 from DMG.

16/Jun/2009  

NEWS RELEASE

- MIDAS SECURES TWO PRESTIGIOUS CONTRACTS WORTH RMB603 MILLION FOR ITS SINGLE LARGEST PROJECT ORDER TO-DATE .