No one really has a crystal ball which can see how Midas will do next week. Best to invest for the mid-term and understand FA. Based on FA, Midas is not a strong stock. However, it has been overly beaten down by a spate of negative developments. It would not be too difficult for it to break thru 40 and 50 if the Chinese Ministry of Railway re-starts its engine.
"There is always something to worry about. The question is whether the market has already worried about it." -- this is a good principle to bear in mind when viewing stocks that have fallen sharply over a period of say 6-months to a year.
Midas fits the bill. If you think the mraket has already priced in all its worries about Midas business, then the stock price can only go up with even a small improvement in its prospects - for example thru a new order win. Likewise the overall mrket -- it has been endlessly worrying about Euro crisis -- now it has taken the challenges in its stride and turned bullish as there is evidence of the crisis being contained, the US economy is coming up , etc etc Good luck!
Hisey: So you are in the money and celebrating cos Midas is now 43 cents liao? Or you sold too early?
The upside potential is there as Midas was about S$1 just 12 months ago. Then it began its slide down to as low as 31 cents on too much bad news from the Railway sector in China.
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[hisey 26-01-2012]:
Do u guys think Midas will break 40 cts by next week or not?
This morning I bought 25 lots of Midas at 39 cts after my broker called me say midas broke 38.5 cts resistance implying will be above 40 cts short-term so he say can buy at 39 cts.
But now midas drop from 39 cts.
I can pick up this 25 lots but if Midas will drop to 36 cts in the short-term, then I might be better off cut loss now and buy back cheaper later perhaps??
So anyone wanna share his TA view on Midas's likely short-term price direction in the next few trading days?
someone told me JP morgan sold Midas recently.
Can some one tell me is it JP Morgan only sold down it's own share holdings in Midas or is it JP Morgan shorted Midas shares??
does anyone know the answer?
