Billionaire investor Vic De Zen continues to devour shares of this publicly traded transportation company.
TTR.V (Daily)
Shares of Titanium Transportation Group (TTR.V) have been wedging higher since bottoming in May. A breakout from the ascending triangle above major support/resistance near C$1.90 would target a further move up to at least C$2.35. Relative strength (RSI – top of chart above) has maintained itself above the median line for more than a month and is perfectly poised in the 55-60 ‘sweet spot’ zone for an upside breakout.
Billionaire investor Vic De Zen has been an active buyer of TTR shares on the open market and in the last few weeks he has added an additional 245,200 shares of TTR at an average price of C$1.78/share through open market purchases:
In addition to his May purchases De Zen has recently purchased nearly C$1,000,000 of TTR stock. Billionaires aren’t in the habit of making multi-million dollar investments that don’t pan out and De Zen’s recent aggressive additions to his TTR stake are as strong a sign as any that he has conviction in what is already a roughly C$20 million investment for him.
Titanium Transport continues to be well on its way of reaching its goal of becoming a C$500 million+ revenue company and its niche acquisition strategy of rolling up C$30-C$50 million trucking firms continues to bear fruit. De Zen might be betting that TTR will become a must have acquisition for a major trucking firm.
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