Could you explain how you get estimated dividend yield is 2.6%. Last year full year dividend is only 0.5 cents The first half this year is only 0.25 cents, and looking at the EPS, dividend is likely to drop. Thanks!
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 .
If average target is 53 cents, the share price now is about 38% discount.
If we discount analysts' forecast by half, then we got about 30% upside from here 33 cents. i mean Can take profit at 43 cents.
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 .
Rock: I didn't notice until my friend informed me. Thank you. I actually have no position in MIDAS. I am just posting to warn retail investors the risk of investing in MIDAS. By the way, I have been reading your sound investment thread. Thanks for sharing.
Rock wrote: 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
Your dream of taking profit at 43 cents can only come true provided share price go up to 43 cents. You are thinking of 30% upside?? ?
Before you think of upside, you might want to ask yourself if share price can have another X% downside, what is the biggest X value?
Joes wrote: If average target is 53 cents, the share price now is about 38% discount.
If we discount analysts' forecast by half, then we got about 30% upside from here 33 cents. i mean Can take profit at 43 cents.
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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