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Friday, December 6, 2013

Midas

Update for Midas 19 Apr 2014 - Midas is holding up well at 47 cents. It seems like a Bull Flag has been form from TA point of view. Breaking out of 48 cents with good volume that may propel to drive the share prices higher towards 50 cents then 52.5 cents .(trade base on your own decision)

Update for Midas 5 Apr 2014 - Midas has indeed went up to test 47.5 cents on 4th April. This is rather on track to move up higher. On 3rd April 2014 it has managed to breakout 45 cents with high volume of 16.76m this is rather impressive. Subsequently, it has again traded higher to close 46.5 cents on 4th April with super impressive volume of 20.38m. This is rather bullish. It indicates buying with prices heading higher. All 3 indicators such as MACD,RSI & stochastic are trending upwards which is rather positive. Short term more likely to test 50 cents then 52.5 cents.(trade base on your own decision) 

Update for Midas 29 Mar 2014 - Midas seems to be in oversold position and under value as it NAV is about 50 cents. All 3 indicators are showing sign of pointing upwards which is rather positive. Short term it may go up to test 45 cents then 47.5 cents. ( trade base on your own decision)

Update for Midas 2 Mar 2014 - Midas is on a consolidation pattern as indicated from TA point of view. All 3 indicators such as MACD, RSI & Stochastic are turning upwards which is rather positive. Last Friday FY 2014 result beat consensus expectation with very good profit. High chance of breaking out of 47.5 cents with good volume and propel to drive the share prices higher towards 50 cents soon. TP 60 cents.
(trade base on your own decision)

Update for Midas 18th Jan 2014 - Midas is still very weak and it needs to move up and cross over 50 cents with high volume in order to reverse this down trend. I think is good to consider to accumulate below 50 cents. Generally Midas has been showing good consistence in winning new contracts and further winning of new contracts for High Speed Train will certainly drive the prices higher to 60 cents and above.
Long term TP 65 cents.
(trade base on your own decision)

Update for Midas 16th Jan 2014 - Midas looks bearish after hitting high of 52.5 cents and went down all the way to 48 cents today and closed at 48.5 cents. All 3 indicators are also turning downwards. This is quite negative. Stochastic looks oversold and hopefully it can bounce up from here. If not, breaking down of 48 cents will see it goes down to 46 cents. 
(trade base on your own decision)

Update for Midas 8th Jan 2014 - Midas hit the high of 52.5 cents on 7th Jan 2014 when the company announced it has just secured another new contract, Today closing price of 51 cents + low volume may be good for the share prices to take a pause. Getting ready to conquer 52.5 cents soon. Breaking out of 52.5 cents with high volume that may drive the share prices higher to 56 cents. 

Update for Midas 31 Dec 2013 - Midas is hovering between 50.5 cents to 52 cents. The company needs to win more contracts in order for the stock prices to go higher.Without the catalyst of new contract wins, it is rather difficult for it to move up unless it is able to breakout 52 cents with good volume .Short term TP 56 cents
(Trade base on your own decision) 

Update for Midas 22 Dec 13 - 
The International Railway Journal  has reported that China Railways Corporation has just awarded new contracts for 258 new high speed trains worth US$7.3bn to China Northern Rolling Stock Company (CNR) and China Southern Rolling Stock Company (CSR).
The contract is divided into two Lots - Lot 1 comprising 78 250km/h trains was awarded to CSR Sifang in 8 batches.  Lot 2 comprises 180 350km/h trains to CNR Chang Chun (27 trains), CSR Sifang (83 trains) and CNR Tangshan (70 trains).
Midas was awarded its first high speed rail contract worth RMB167.5mn from CNR Chang Chun and CNR Tangshan.High chance that this high speed new contracts may be awarded to Midas in time to come. No change to my TA view.Wait for confirmation sign of a breakout of 51 cents with good vol may see it rises further to 56 cents.
 (Trade base on your own decision)

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Midas - The pent up rail projects has already seen some evidence in Midas securing more than RMB4.6bn in gross contracts and RMB2.01bn in net contracts in 2013 alone. Midas itself announced two contracts in October 2013 while NPRT announced one contract.Currently  Midas share price is well supported by its NAV of RMB 2.42 or about S$0.50.Wait for confirmation sign of a breakout of 51 cents with good vol may see it rises further to 56 cents. Longer term view with more new high speed rail contracts win may see it rises to 60 cents.
(Trade base on your own decision)



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