Uranium Energy is it right time to buy?

Jun 8

Price Levels and Trends

1. Resistance Levels:

• $7.70: The price has faced resistance at this level recently.
  
• $7.68: Another resistance point that the price recently touched but failed to break.
  

2. Support Levels:

• $5.83: The current support level, which has held the price from falling further.
  
• $4.35: The next support level, indicating potential support if the price drops below $5.83.
  
• $2.40: A historical support level from previous years.
  
• $0.5792: A very low historical support level, indicating the minimum price over the chart's timeframe.
  

Trend Analysis

• Uptrend Channel: The price is moving within an ascending channel, with higher highs and higher lows. The upper trendline acts as resistance while the lower trendline acts as support.
  
• Current Position: The price recently hit the upper resistance of the channel around $7.68-$7.70 and has retraced to the support level around $5.83.
  

Indicators

1. Stochastic RSI:

• Current Value: The Stochastic RSI is around 62.61, indicating a neutral to slightly overbought condition. This suggests there might be some room for the price to move up before becoming overbought, but caution is warranted.
  

2. Cumulative Volume Delta (CVD):

• Current Value: The CVD is showing a significant negative value (-35.662M), indicating that selling pressure has been dominant. This could mean that despite price increases, sellers have been in control, potentially foreshadowing further price declines or consolidation.
  

Sep 7

Note

Important: Officials of the Uranium Company (insiders) purchased hundreds of thousands of shares at an average price of $4.00.

Nov 8

Trade active

Since my last update, when the price was $4, it has peaked at $8.62 and is currently at $8.00, with expectations to rise further in the coming months.