The recent management changes announced this month seem to have no positive impact on the stock price of Tasman Metals Ltd (CVE:TSM), (PINK:TASXF). At least, they have managed to stir investors a bit, judging by the rising volumes.As mentioned, in the recent months Tasman has focused its efforts on the improvement of the company’s human resources. Two announcements related to changes in the management have been released over the last 15 days. The latest one was released on Friday and informs about the appointment of Mr. Leathley – a man with over 50 years of experience in International Mining industry sector – as a director of Tasman Metals.
Still, there is no positive reaction of investors to the recent company news. Actually, since mid-April the stock has produced several ups and downs, but as a whole we notice a negative trend. In April, TSM had almost touched the $6 level, while at present it finds itself close to the $3 price mark.
The future performance of the shares is not clear, but we might make some suggestions by using technical analysis. As the chart shows, yesterday TSM formed a bullish hammer pattern. The candlestick is with a long lower shadow, as the stock hit a 10-month low at $2.61 during the session. However, the reliability of the hammer is not high. Without a confirmation, it is hard to predict a possible rise in the stock price.
Yet, the past performance of TSM provides us with several occasions when a hammer pattern marks the beginning of period of share price increase. Additionally, some indicators, such as the Williams %R index, also seem to be sending a buy-signal.
Tasman Metals is a Scandinavian-focused exploration company that owns rare earth element projects in Sweden, Finland and Norway. At present, Tasman Metals is dedicated to advancing its Norra Karr property in southern Sweden. As the company’s officials claim, it contains more than 50% heavy rare earths with two key metals – yttrium and dysprosium. You can find further information about Tasman’s flagship project at this link.
