Break out will depend on a U3O8 spot price and market conditions. Since Cameco had announced an emergency restart due to very low inventory of available metal and their contractual obligations it is just a matter of a very short period of time b4 spot price will start moving up North. DNN will be one of the lowest cost producers when they start mining. This temporary holt in a price advance in all uranium miners is just an opportunity to buy more if one has more dry powder left.
Patience here will certainly pay off. My target price still remains the same - overshoot to about $2.70 when FOMO kicks in and it will settle between $2.00-$2.20
I would not jump in and out trading - the sudden move in this sector will leave you behind very quick.
Good luck.
Patience here will certainly pay off. My target price still remains the same - overshoot to about $2.70 when FOMO kicks in and it will settle between $2.00-$2.20
I would not jump in and out trading - the sudden move in this sector will leave you behind very quick.
Good luck.