What is Happening to TNG LTD’s Share Price Lately?

What is Happening to TNG LTD’s Share Price Lately?

What’s Happening to TNG’s Share Price?

TNG reported yesterday that geotechnical drilling has commenced at its flagship Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory. Shares in TNG Ltd have been trading higher over the last few days, breaking out of a sideways pattern it’s been in over the last month and a half.

TNG have a multi-commodity resource portfolio in the Northern Territory and Western Australia. However, its main project, Mount Peake, is one of the largest vanadium projects in Australia, strategically located close to existing infrastructure, including the Alice Springs-Darwin Railway and Stuart Highway.

Vanadium is a ‘miracle metal’ mostly used to impart strength, hardness and water resistance to steel. It’s also used in the titanium alloys found in jet engines, airframes and other high-end specialty materials. Whilst Vanadium is mostly used to strengthen steel, the metal could see its demand dramatically increase because of its ability to create powerful ‘supercharged’ batteries for the growing electrical vehicle market.

Miracle metals and supercharged batteries may be a good story, but don’t get lost in the narrative. Trade the chart, not the story.

What does the chart look like?

Here’s the daily chart of TNG:

TNG Share Price

Source: STEX

It’s broken out of its sideways pattern for the last month and a half on news that drilling is underway. If you have an ability to read a chart, it won’t have been a total surprise it made a top at 17 cents on news. That’s of course, if you can read a chart. Go here to find out how. You owe it to yourself to obtain this skill.

What now for TNG shares?

The news simply confirming that drilling is underway, which will help complete the feasibility project, which is expected to be finished by mid year. For now, we just have to wait and see how it reacts to the news and look for some technical indicators that will confirm what the trend is from here.

Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

Join Markets and Money on Google+

Leave a Reply

2 Comments on "What is Happening to TNG LTD’s Share Price Lately?"

Notify of
Sort by:   newest | oldest | most voted

Should be a few technical indicators in today’s action Terence.

Are we watching history is the making? This could very well be Australia’s next big resource play!


History ‘IN’ the making!

Letters will be edited for clarity, punctuation, spelling and length. Abusive or off-topic comments will not be posted. We will not post all comments.
If you would prefer to email the editor, you can do so by sending an email to letters@marketsandmoney.com.au