I like the story but what is needed is a convincing move to the upside. If the shares can make a move through $6.00 it has little resistance back to $8.00.
TCK.B needs an expanding global economy to stoke demand for its resources. Unfortunately economic growth forecasts are being revised lower taking this stock with it.
With a death cross on the chart, the momentum indicators turning lower, and investors in a selling mood I think that caution would be the better part of valor.
Maintain your surveillance and look for a turn if the shares bounce off $1.00
It appears that there is some support at $11.50. But with a death cross starting to form and the sector not enjoying the summer and early fall on a seasonal basis it might be wise to consider cutting your losses and preserving capital for a re-approach later in the year.
If you have an appetite for risk you could jump on now and see if you catch a lift. On the other hand if you are risk averse you would want to see FM move through resistance at 82.50 and see if you can ride it back to $92.50.
What I also see is a small double bottom off support which is a reversal pattern indicating that the selling that started in the middle of January could be coming to an end.
