If you have been anticipating a resumption in the October rally, this may be the trigger. The SMH/SOX is the (I believe) the last of the major indicies to still have a gap left unfilled. If it closes today (or this week), then maybe we can get going to the upside. Some resource stocks have already started their ascent (GDX, SILJ, UUUU, UEC, NXE, etc.)
The uranium spot price and mining equities have experienced a significant run since the pandemic lows-- largely due to SPUT purchasing from the spot market, panic buying by utilities at the beginning of Russia's invasion of Ukraine, and the prospect of Japanese restarts. But the days of going up multiple times over seem to be over: the spot price has been drifting...
NASDAQ:UROY
On the daily chart UROY which is a uranium royalty play
is at a three month long. Outlook is good when energy
costs are rising and uraniums is widely considered
more green than Oil, natural gas and other CO2 producing
fuels.
The RSI Oscillator is in mid-range. Within the past
few days, a high spike of buying volume is noted.
A Doji candle...
Uranium miners jumped over short-term resistance this morning (9 & 21 DSMAs). With strong volume at 11 am and support at 200 DSMA having held from two days ago, I'm looking for URA to maybe catch its breath at the 50 DSMA before pushing through and targeting 28 in September.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that,...
Over the past two years, the uranium sector has been experiencing a deficit on the supply side which led to a surge of more than 300% in the price of Global X Uranium ETF. The situation was even further exacerbated when in January 2022 Kazakhstan, world's largest producer, saw civil unrest spreading across the country. We foresee the deficit in the uranium market...
uranium is possibly an emerging market. as governments look for more ways to meet their bottom line energy requirements, uranium is looking like the new oil. But you can't openly bid on the uranium market, probably a good thing, so here is a uranium stock.
Is this a good uranium pick? Is there a different one you are looking at?
Deeper than I had envisioned. upon reaching the previous golden pocket on the shortest uptrend, the price bounced back but was rejected at $4.5.
so downtrend is extended.. now the price is already in the zone from where it could turn. we are low in the RSI and so the bulls may have the energy to move upwards again.
- red bar is the next resistance.
- blue bars are...
This is an upward zigzag being formed here, nearing confirmation of an upward Wave C. The most recent ?1 of ?C looking impulsive. If we are right, Fibonacci form the goal posts for a few target in place. Good luck!
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are...
OK OKOKOKOK
Uranium in a freefall? Is it?
So where is the bottom??
$34.40 - see the chart for explanation. I see a big multi-leaf IH&S. Tricky chart ! But there it is. I have seen no better explanation for this chart.
Tips accepted ;)
.5 retrace from the high in mid-Sep. This is consistent with the potential inverted H&S printing. I think it not coincidental that the volume profile shows price at the point of control too.
Ichimoku lagging span went blasting past the ATH iceline. If this day candle closes above I'd consider that a second indicator. A golden 50-200DMA cross appears to be imminent. So the next plottable zone of resistance would be $4 from 2012's high. Energy market fundamentals say energy market is bullish for the year's remainder barring any changes.
