March 24, 2009
TZN Short Term Trade
By Planet Wealth
TZN is a mining stock that has been hit hard in this bear market, but it’s showing some positive signs, for the small term at least.
After coming off a $4.00 high in May 2008, TZN plummeted to a low of $0.31. The stock broke up through a 5 month down tend, came back down, used it as support and headed up again. In doing this, TZN has formed a small bullish pattern referred to as an Inverted Head and Shoulders (INH&S) See previous posts for an in depth explanation of this pattern. Should the stock break the neckline of the INH&S, there looks to be a clear run up to $0.86 before meeting any sort of significant resistance.
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Topics: bullish signal, candlesticks, minning stocks | No Comments »
