Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Shares in sweetener specialist Tate & Lyle (TATE) are currently forming a classic MIDAS pattern. A buy signal was triggered on Wednesday, as this stock closed bang on MIDAS support. Since then the shares have pulled back, leaving MIDAS users with a tricky decision. Currently trading at 666p, this is below the projected AUG2010 support at 670.56p and the question is whether the stock can build on its recent consolidation.
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