More on TIE

Yesterday (5/25/11) showed the lowest price on a down day since 4/18. Also marked 5 down days in a row with yesterday being the highest volume of the the 5 days. This suggests that as the price falls, more and more sellers are dumping shares. Yesterday was the highest volume day since 3/18. TIE did announce resumption of a quarterly dividend which should help support shares. The chart still looks like there is potential for near term decline.

TIE Technical downtrend

Titanium Metals (TIE) has shown three days of declines with increasing volume each day. This tells me that as the price declines, more and more sellers are getting rid of their shares. The price dipped below the lower Bollinger Band yesterday, so I will be looking for a turn around. The April low of 17.50 is the nearest support point followed by the March low around 17.00. The company has great fundamentals and its looking like a good entry point may be nearby.