Monday, May 30, 2011


Midas: CIMB has Technical Buy Call. Note that counter fell from the $0.835 high and appears to be losing steam as the candles are starting to flatten out. That has affected the MACD as it is now almost confirming its golden crossover. Both its MACD and RSI show bullish divergence on both the daily and intra-day charts, which suggests that the bears are losing momentum…..

Recommend traders go long for a short term trade. Place a stop below $0.65, the March low. House is looking for a rebound towards $0.725 and possibly even retest the $0.835 levels again.

No comments:

Post a Comment