MIDAS

FairPerson
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9 years 7 months ago - 9 years 7 months ago #20845 by FairPerson

Replied by FairPerson on topic MIDAS

I prediction is correct. Go below 38 cents in less than two weeks.
Hit 37 cents low today and closed at 37.5 cents.
Short sell volume is still high (Today 15 Sept 2,758 lots), very likely to go down further slowly till November 3Q result.

For those who die die must invest in MIDAS, may be it would be good to wait till 3Q result release before making a decision.

FairPerson wrote: On Friday 05 Sept 14:

Total volume traded: 3,541 lots.

Short sell volume: 1,599 lots.

About 45% of the trade done are by short-sellers.

Looks like no BBs are collecting, buyers could be doing short-covering (those who have shorted at higher prices) and sellers are shortists. Looking at the trading pattern, it is difficult for share price to turn around, Probably will hit 38 cents again in less than two weeks and go below 38 cents.

Price will only see chance to turn around if the short-sell volume falls to below 20% for some time, or very positive news, or share price hit 30 cents.

Just my guess. Trade at your own risk.

Last edit: 9 years 7 months ago by FairPerson.

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FairPerson
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9 years 7 months ago #20857 by FairPerson

Replied by FairPerson on topic MIDAS

MIDAS 2Q2014 EPS is 0.68 RMB Fen (44.5% decrease compared with 2Q2013)

If 3Q14 result release in coming Nov is also around there or below and if the same also happen for 4Q14 result, then there is a HIGH risk that final dividend is 0.1 cents or lower (there is also a high possibility that there will be no final dividend). If this happen, then share price will definitely go below 30 cents (maybe around 27 to 28 cents).

Thus, after 3Q14 result release, MIDAS might experience high selling pressure if EPS drop further. For those who are still holding MIDAS, these two weeks might be your last chance to sell your MIDAS shares at above 37 cents.

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FairPerson
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9 years 7 months ago #20874 by FairPerson

Replied by FairPerson on topic MIDAS

Now trading at 36 and 36.5 cents. Those who have not sell last two days at 37 cents most likely will have to wait long long to sell above 37 cents.

Looking at the trade summary and time and sales, MIDAS is heading towards 32 cents in maybe three weeks time.
Also, the volume might be thin indicating no vesting interest from retail investors. Take care!

FairPerson wrote: MIDAS 2Q2014 EPS is 0.68 RMB Fen (44.5% decrease compared with 2Q2013)

If 3Q14 result release in coming Nov is also around there or below and if the same also happen for 4Q14 result, then there is a HIGH risk that final dividend is 0.1 cents or lower (there is also a high possibility that there will be no final dividend). If this happen, then share price will definitely go below 30 cents (maybe around 27 to 28 cents).

Thus, after 3Q14 result release, MIDAS might experience high selling pressure if EPS drop further. For those who are still holding MIDAS, these two weeks might be your last chance to sell your MIDAS shares at above 37 cents.

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Rock
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9 years 6 months ago #20888 by Rock

Replied by Rock on topic MIDAS

FairPerson you are 'spot-on Midas'.

Midas seen to be analysts favourite stock, target buy as high as 75 cents 16 times since October 2013 till August 2014. But Midas price has been falling gradually from near 50 cents to 35 cents. Very embarressing. Those who follow analysts recommendation on Midas will lost money. Worst still those who average down will lost heavily.

MIDAS: Target Price By DBS, OCBC & CIMB Since October 2013

22/10/13 (47.5cts) - Target 74cts/Outperform (CIMB)

22/11/13 (47cts) - Target 65cts/Buy (OCBC)
18/11/13 (49cts) - Target 67cts/Buy (OCBC)
15/11/13 (49cts) - Target 67cts/Outperform (OCBC)

10/12/13 (49cts) - Target 64cts/Buy (DBS)
09/12/13 (49cts) - Target 60cts/Buy (DBS)

4/4/2014 (45.5cts) - Target 66cts/Buy (OCBC)
4/4/2014 (45.5cts) - Target 75cts/Buy (Maybank KE)
8/4/2014 (47cts) - Target 64cts/Buy (DBS Vickers)
8/4/2014 (45.5cts) - Target 71cts/Add (CIMB)

12/5/2014 (47cts) - Target 64cts/Buy (DBS Vickers)

5/6/2014 (43.5 cts) - Target 61cts/Buy (OCBC)

16/7/2014 (44 cts) - Target 61cts/Buy (OCBC)

15/8/2014 (41cts) - Target 51cts/Buy (DBS Vickers)
18/8/2014 (41 cts) - Target 50cts/Buy (OCBC)

Today Midas still trading at 35 cents.
Not Vested

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pine
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9 years 6 months ago #20896 by pine

Replied by pine on topic MIDAS

Friend asked to share:

Midas is near 10 year oversold level with RSI 14.0. The 10 year low RSI was about 12.8. Ave analyst target price is about S$0.530. Estimated dividend yield is around 2.6%.

Midas has fallen 31% from $0.495 on 8 Apr to $0.340 today. This coincides with the 76.4% retracement level around 0.342. Near term support should be around 0.335 - 0.340 / 0.315 - 0.325. Resistance is at 0.355-0.365 / 0.375. As with previous patterns, 10 year low RSI is typically accompanied with some form of technical bounce .

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FairPerson
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9 years 6 months ago #20901 by FairPerson

Replied by FairPerson on topic MIDAS

How to have an estimate dividend yield of 2.6%?

pine wrote: Friend asked to share:

Midas is near 10 year oversold level with RSI 14.0. The 10 year low RSI was about 12.8. Ave analyst target price is about S$0.530. Estimated dividend yield is around 2.6%.

Midas has fallen 31% from $0.495 on 8 Apr to $0.340 today. This coincides with the 76.4% retracement level around 0.342. Near term support should be around 0.335 - 0.340 / 0.315 - 0.325. Resistance is at 0.355-0.365 / 0.375. As with previous patterns, 10 year low RSI is typically accompanied with some form of technical bounce .

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