MidasTouchConsulting
Long

Uranium Energy - bear trap and reversal

AMEX:UEC   URANIUM ENERGY CORP
50 0 5
In contrast to most of the other uranium stocks UEC             has been holding up pretty well over the last 18 months. In mid of May the stock shot up 111% from 0.69USD to 1.46 USD within 12 trading days. In the following three and a half months the stock as been consolidating this sharp move within a large triangle. 
On the last day in september UEC             broke down from this triangle and the price has been falling down towards the 200MA (0.90 USD). Three days ago the downtrend probably has ended with a final bear trap and an intraday reversal.
The stock is beaten down and compared to its high in early June extremely cheap.
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