FerrAus Limited (ASX:FRS) makes a living digging up three ingredients for steel: iron, nickel and manganese. Today, its chart has three subtle ingredients for a nice move upwards.
The stock took off last year, in April 2007. Prior, the stock was trading below 50 cents. In April it began to rise strongly, and hit a first high at $1.17 in July 2007.
All this good work was undone by the equity markets last summer.
FRS plunged back to 50 cents again. And there it stopped. The new low became the starting point of a long-term bullish trend. It drove price action to $2.02 in late May this year. Have a gander.
