TRQ update

trq dec 2012

We had an ideal target for this stock at $7.08 based on Fibo ratios. Impatience got the better of us and consequently we thought it might be a buy already at $7.70. In the mean time the stock has made a marginal new low at $6.91, close to our target and has spent almost a half year doing so. The RSI and MACD are not confirming the new low.

As far as a count is concerned we not at all sure but the best fit would seem to be a 5-3-5 A-B- with C almost vector equal to A. Any rebound from here could be substantial. This is a big mine that could, by itself, upset the balance of supply without  being effected much because of its low cost of production. Below is just one example of the machinery used.

TRQ photo

P.S. Sometimes rougher charts appear to be more accurate,here is the same from MSN showing the top as the second top!

TRQ  Dec 6 2012