Bullish on this stock having now acheived over 200% from initial entry I am letting this ride the USA Uranium and REE narratives as they bothe develop independently. I'll update with smaller levels of technical resistance as it progresses, has space to run free with pullbacks until 7.80 , once confidently above 8 we have a clear tun to 20 in sight, see channel intersections with resistances to see potential dates of challenges.
Hi,
I've been watching this for a while. Do you see this touching 20's anytime soon? It appears to break 8 soon. Can you also add some FIBs to the chart. I'm struggling on this.
thx
ptero1492
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ptero1492
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@kkandru, risky to start a position now, though I got the bottom correct here, I missed the entry as I was distracted. Watch your risk carefully, nothing is guaranteed here, but a break and hold above 8.3 might open up space to 17-20.
findingvalue
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What does the 11.89 on your chart signify? I see that it is overhead resistance dating back to 2012-2014. Is this your first take profit territory? Or just a level to look at for reference.
ptero1492
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@findingvalue, 11.89 is the major horizontal resistance established back in 2011 through to March 2014, it will pose the most significant hurdle on the way to 20$ after a break above 7.8/8
kkandru
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@ptero1492,
Do you see any upside near term ? It’s been sideways and very slow moving got a while.
Incase stock market turns Deep South , what would be ideal level to have stop loss ?
Thx
ptero1492
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Yo @kkandru, it depends on your time horizon and entry point. For me I wish I had held through from my initial entry in the 2 dollar range, I've now got a break-even price in the high 3 dollar range. I may seek a break-even stop-loss with intention of using the same funds to jump in lower. I think this is an amazing opportunity to play REE focus on USA national security and Uranium ESG story. Those factors are both overbought in the short-term, coupled with impending market correction projected for mid-April. So if you are in profit and don't intend/ don't have a history of patience for downside. Take profit or trim size and wait. Perhaps this shorter-term chart of mine will be of some use in deciding a level for a specific stop-loss:
If it's not clear from my rambling, I personally intend to average down.
I've been watching this for a while. Do you see this touching 20's anytime soon? It appears to break 8 soon. Can you also add some FIBs to the chart. I'm struggling on this.
thx