Technical Analysis of Financial Markets

Tuesday, September 23, 2008

Titanium Metals Corp. (TIE)


Industrial metals & minerals manufacturer Titanium Metals Corporation produces titanium melted and mill products. Price action has declined 300% within the last 14-month projecting a probable 5-wave Elliott formation. An entrance into a buy position with stop on close below $9.80 may serve as low-risk long term trade.

1 comment:

Mika said...

This is very beautifull chart steve as well as trico marice service chart below.

Bear risk, at least with trico marine could be that you have 4th wave on the progress, it could be wave 3 bottom on there which breaked for it´s own impulse allready, but overall very clear and good suggestions & projections, it just came to my mind as I usually try to figure out in my mind possible alternate scenario, but looks reasonable healty.

Both ot those charts are bull wedges also from long run.

Mad market, US banks falls like dominos, but overall market has been keeping well in recent weeks, seems like it does not want to make new lower low anymore, we´ll see if we´ll live...

Enjoy your weekend in UK and remember to relax also,

Regards, Mika from MarketGeometry