Titanium Metals near Support

Published on Friday, 11 November 2011 08:04 Written by Christopher Lynn

New York, November 11th (TradersHuddle.com) - Shares of Titanium Metals Corporation (NYSE:TIE) are trading very close to calculated support at $15.17 with current price action closing at just $15.22 places the stock price near levels where traders will start paying attention.

Titanium Metals Corporation (NYSE:TIE) produces titanium melted and mill products. The Company's products include titanium sponge, melted products, mill products and industrial fabrications which are used in aerospace and industrial applications.

Titanium Metals' current stock range is defined by current calculated support defined at $15.17 and by the resistance level at $17.95, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Titanium Metals' price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $17.95 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.