TIR is rapidly approaching 31 cents, the Fibonacci retracement level from the $1 highs to the all-time lows. The chart shows a series of building waves from 1999 to the present, suggesting a close above 31 cents could signal the start of a major move upwards.
I'm not strong on chart analysis but see the shortfall in nickel production for the next two+ years and the rising price of nickel as underpinning the growth of stocks like TIR. Catherine Davey from Investorweb is pretty bullish on this one but suggests a retrace to .26 or slightly lower is possible before another assault on the 31 cent level. Anyone with expertise on chart analysis see things differently? A few more strong days like yesterday though could render this discussion academic.
All views appreciated. Conduct your own research. Obviously I hold.
Good luck to all, Gupper
TIR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
