URNM is ranging after moving out of the downward channel. The uranium thesis is extremely bullish. I expect this stock to be much higher by year's end. The current structure looks like it follow a similar path to the orange squiggly lines. Entry for a trade would be just below the New year open of $75.78.
Comment
⋅
testing support once more. Need a break up or we are headed towards $60.
Comment
⋅
Broke down. We will now see 60s until we can break structure.
Over $100 by end of the year. Sprott Acquisition is very exciting.
hennekllc
⋅
@rareGuest23064, It depends on what the general markets will do. Right now everything is moving towards the downside. This will affect equities in the uranium space even with Sprott and bullish catalysts. Long term trade for me.
rareGuest23064
⋅
@hennekllc, yep long term is the better way to trade these. Good luck!