Midas (technical)

Midas: Recognia (Bloomberg) has technical Buy call, detecting a "Bottom Triangle" chart pattern formed on Midas. This bullish signal indicates that the price may rise from the close of $0.35 to the range of $0.42 - $0.44. The pattern formed over 42 days which is roughly the period of time in which the target price range may be achieved. Midas Holdings Limited has a current support price of $0.35 and a resistance level of $0.36. A Bottom Triangle/Wedge is considered a bullish signal, marking a possible reversal of the current downtrend. The pattern is formed during a downtrend and shows two trendlines converging. The technical event occurs when the price breaks upward out of the Triangle/Wedge formation and closes above the upper trendline, thereby confirming the pattern.