Friday, November 26, 2010


Midas: Announced that it is currently in discussion with relevant parties to establish a new plant in Liaoyuan City, Jilin Province. The new plant is to have an aluminum alloy extrusion capacity of 30,000 tonnes per annum. (currently 50,000 for FY11F), which will be funded by HK IPO proceeds. Plan is pending approval, however there is a lack of details for now, street estimates plant could begin earnings contribution in 2012….

Technically, Stochastic looking over Sold, and beginning to Hook upwards, while RSI appears to be coming up from its neutral levels. See resistance at $0.96 (20day EMA) and support at $0.91 (Resistance turned support)

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