After reducing my crypto risk and securing profit, I decided to add a small URA position. This is a long term swing trade opportunity, similar to the opportunity I saw in GME (which I regrettably didn't take). However, I DID post about it, and why I thought a short squeeze was possible. I thought it could squeeze to ATH , but I wasn't aware of what was happening with the Reddit community around the stock. Here is my GME analysis from October:
This trade is ultimately targeting all-time high for URA. Why? I'm hedging against the future here. A couple of things could drive Uranium price higher. Both can happen.
1)Demand for alternatives to fossil fuels and gas --- nuclear is one of them, and it has gotten much safer in the decade since the Fukushima disaster.
2) Economic collapse. This could cause war and a scrounging for resources that can be used for energy.
As I mentioned, this is a small position. I have bought twice recently, with an average price of $15.49. I'm building for a long-term swing trade. The technical setup is also looking very good. It looks like a failed low and a long term breakout from some major downtrends. Potential targets are in green.
This is not financial advice! This is for educational and speculative purposes only.
-Victor Cobra
This trade is ultimately targeting all-time high for URA. Why? I'm hedging against the future here. A couple of things could drive Uranium price higher. Both can happen.
1)Demand for alternatives to fossil fuels and gas --- nuclear is one of them, and it has gotten much safer in the decade since the Fukushima disaster.
2) Economic collapse. This could cause war and a scrounging for resources that can be used for energy.
As I mentioned, this is a small position. I have bought twice recently, with an average price of $15.49. I'm building for a long-term swing trade. The technical setup is also looking very good. It looks like a failed low and a long term breakout from some major downtrends. Potential targets are in green.
This is not financial advice! This is for educational and speculative purposes only.
-Victor Cobra
Comment:
Getting into a heavy horizontal resistance area. I loaded up a little more recently. Aiming for a strong breakout above the $20 level, but could take some time.
Comment:
This trade will most likely take years to play out, so I'm in no rush here.
Comment:
I bought more in the $17 range last week. The Texas incident has caused a little bit of FOMO here in the energy sector, as people are realizing that nuclear energy might be a better alternative, along with solar.
Comment:
Heading to the first major weekly target now.
