Uranium stocks, hit by a decade long decline of uranium prices, are now strongly reversing like many other commodities.
While one can use Uranium ETFs to get a long exposure, I prefer junior companies (which offer a better risk-return trade-off in my opinion), such as $BSK.
*Disclaimer: I'm long BSK for more than a year
URANIUM IS A MEDIUM/LONG TERM BUY WITH A STORY BEHIND IT !!!
M1 : BREAKOUT OF THE CLOUDS ON A MONTHLY BASIS
Plenty of space on the upside.
Begin to buy a LONG STRATEGIC POSITION AT CURRENT LEVEL
Investment vehicle : ETF URA (last price $ 21.35)
DROP THIS MORNING IS JUST A HICCUP
1. There should be a jump to 20.75 Tuesday morning, but Thursday at the latest
2. So? That puts the FIRST LEG to 26.25-28 7.50 AREA to top anywhere from FRIDAY TO NEXT TUESDAY.
3. Currently projected for FRIDAY AT 11:30 PM.
4. IF EARLY, TOP AT THURSDAY 1:30 PM.
5. CHARTS FOR UEC , NXE , DNN ALL SAY THE SAME THING.
The Uranium ETF has sustained an uptrend since March 2020, with is rise resembling other bullish stock markets. Perhaps the most important development is the formation of the Golden Cross (MA50 crossing above the MA200) on the 1W time-frame. The 1W MA50 (blue trend-line) has been the Resistance throughout its multi-year downtrend. Can it now provide Support for a...
fyi: I'm long uranium: fundamentals and commodities bull run
fyi: i'm still learning TA and looking at Elliot Waves.
This negative divergence looks like it could be heading into the the first ABC of a much larger wave 2 that will top on wave 5. (just my uneducated opinion)
Also, distance for 50MA is frothy.
Also, gap. (gap is a multi year resistance that could...
There is nothing really attractive about the sector other than macro dreams about a uranium supercycle ... I'll leave that to the governments to decide. But we can clearly see speculation by big money players into uranium equities. We can speculate by entering a call debit spread on the uranium ETF URA. URNM is a more concentrated bet on mining.
Buy the $20...
People are quite excited about uranium and hating on oil stocks.
I see Uranium futures losing support, Cameco directors dumping their shares, premiums on calls on Robin Hood..
Meanwhile, Oil prices are rallying, Texas oil offline, about 40% of US production and what sounds like serious supply chain issues. I am seeing experienced commodity traders hating on oil...