the squirrelist

Chart of the Day
Tags | analysis, chart analysis, charting analysis, molybdenum, technical analysis, Thor Mining PLC, THR, tungstenThor Mining PLC (THR)
Posted on 05 April 2012 by Catherine Davey

This baby tungsten/molybdenum company has been building a base since the GFC lows – the perfect price structure for a multi-value move higher.

All-time high potential
Can a company that is currently trading around 3c make its way back to all-time highs above 50c? Yes, if it does nothing for a very long time. Thor Mining topped in April 2007 and fell from 51c to a low of 1.3c in March 2009 and then new lows at 0.8c in June 2010. The sum total of the price action from the 1.3c low until recently is a protracted period of trading at the lows – the perfect base-building exercise.

Trigger point is 8c
When a stock or market trades at its lows for a matter of years after going through a severe downtrend, that is the best set-up for a new long-term bull market. Thor Mining has spent years rejecting the downside. Having proven it doesn’t want to go any lower its next task is to prove it wants to go higher. The critical level on the upside is the peak of March 2011 at 8c. If and when Thor Mining can close above that peak, the basing pattern will be complete and the real gains can start.



Chart of the Day
Tags | analysis, chart analysis, charting analysis, molybdenum, technical analysis, Thor Mining PLC, THR, tungstenThor Mining PLC (THR)
Posted on 05 April 2012 by Catherine Davey

This baby tungsten/molybdenum company has been building a base since the GFC lows – the perfect price structure for a multi-value move higher.

All-time high potential
Can a company that is currently trading around 3c make its way back to all-time highs above 50c? Yes, if it does nothing for a very long time. Thor Mining topped in April 2007 and fell from 51c to a low of 1.3c in March 2009 and then new lows at 0.8c in June 2010. The sum total of the price action from the 1.3c low until recently is a protracted period of trading at the lows – the perfect base-building exercise.

Trigger point is 8c
When a stock or market trades at its lows for a matter of years after going through a severe downtrend, that is the best set-up for a new long-term bull market. Thor Mining has spent years rejecting the downside. Having proven it doesn’t want to go any lower its next task is to prove it wants to go higher. The critical level on the upside is the peak of March 2011 at 8c. If and when Thor Mining can close above that peak, the basing pattern will be complete and the real gains can start.



Achieving balance
The nature of price structure is that it seeks balance. Just as a rally that is too steep inevitably suffers a heavy correction, a long-term period of doing nothing on the charts can lead to some explosive and sustained moves higher. The chart for Thor Mining has the potential to become a ten bagger or even revisit its per-GFC peak.

Short-term targets
In the meantime there is support at the well-tested low of 2.5c from March followed by 2c then the double bottom lows (highs at 2.4c) from September last year at 1.5c. Next resistance is at the peak of 3.5c from last month followed by Fibonacci 38% retracement of the losses since 8c (8c – 1.5c) at 4c then the 50% mark of the same range at 4.7c.

Sup: 0.025 0.020 0.010
Res: 0.035 0.040 0.047


Cant stick the chart up sorry
but just google "the squirrelist thor mining"