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Saturday, August 18, 2007

Midias 18/08/07

Overall trend of Midias is still on the downtrend. Even STI has recovered on 17/08, this counter didn't cover back, but this has formed a double bottom, it may break out to a bullish signal but we still need more confirmation, it can also form a triple top which is a bearish signal.

other indicators still havent show a recovery as the last few days there is high vol of sell, if it breaks the supporting line and will cause a more downtrend.

since dow recover and gives a bullish sign, but you still need for more confirmation as dow or sti may not affect this counter at all. Stochastic and MACD also showing a sell signal.
my view is skip this counter if u are intending to buy it for a short term. for long term player you may want to look at the fundamental of the company

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