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Midas ST: above its upper Bollinger band
Trading Central | 2018-01-04 01:40:00

Alternative scenario: the downside breakout of 0.134 would call for 0.092 and 0.066.

Our pivot point is at 0.134.

Our preference: our next up target stands at 0.261.

Alternative scenario: the downside breakout of 0.134 would call for 0.092 and 0.066.

Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 0.12 and 0.16). Finally, Midas has crossed above its upper daily Bollinger band (0.15).

Supports and resistances:
0.316 **
0.289 *
0.261 **
0.234
0.175 (SGD-last)
0.15
0.134 **
0.092 *
0.066 **

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