Midas (technical)

Midas: longer term technical outlook starting to look favorable. Following the double bottom that occurred in mid May and late Jun 2012, the stock may now be on the cusp of a new longer term uptrend. Our positive view is further evidenced by the rising key indicators which are above neutral and rising, and our view holds as long as the stock stays above the 200 day MA support (at $0.36). See resistance at $0.44-0.45, and a break above that could see the stock move to cover the Aug 2011 gap at $0.525.