Titanium Metals Corp (NYSE:TIE) is one of the producers of titanium melted and mill products. The Company is the only producer with major titanium production facilities in both the United States and Europe, the world’s principal markets for titanium consumption. TIMET is currently the only major producer of titanium sponge, a key raw material, in the United States. The Company was first manufactured for commercial use in the 1950s.TIMET’s products includes titanium sponge, melted products, mill products and industrial fabrications. The titanium industry is comprised of several manufacturers that, like TIMET, produce a relatively complete range of titanium products and a number of producers worldwide that manufacture a limited range of titanium mill products. The Company develops certain industry estimates based on its experience within the titanium industry as well as information obtained from publicly available external resources. The Company holds U.S. and non-U.S. patents applicable to certain of its titanium alloys and manufacturing technology, which expires at various times from 2007 through 2025. (Source: Bigcharts)
You might be thinking, wasn’t this stock already mentioned before? The answer is YES. I was reading up on my friend CalTrader’s blog when I noticed this familiar symbol. Out of curiosity I thought, “Mmm…I wonder how that security is doing these days.” Sure enough, the stock was perfectly positioned for a solid trade.
This little deja vous came as the stock lost momentum, forcing us to liquidate, then roaring right back. So what is the difference this time around? Not only are the MACD and DMI currently showing a buy, but the stock is currently breaking out from a long-term symmetrical triangle pattern.
At this point if you are still stuck on the sidelines with those lousy large caps you should probably sell and free up some cash…
NOW IS THE TIME TO BUY Titanium Metals Corp (NYSE:TIE)
I am extremely bullish on this stock due to the breakout and indicators mentioned above. In the past few years this stock has climbed from $5.00 all the way to $45/share. Based on my experience I can see the breakout running to at least $60/share in a 12-18 month investment time horizon.
Our Recommendation: Buy shares of Titanium Metals (TIE) at or near $35.35 and place your stop loss 5% below your purchase price.
Good Investing…
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