Uranium stock - TSX
Clear macro market cycles
IPO into down trend - descending triangle = bearish
2019 horizontal support breaks which results in capitulation in 2020 -80% from March 2019-2020 March.
Down trend breakout in 2021 with retest to now support.
Bull flag formation in 2021-2023 with retest of 0.55 key swing low level now acting as support.
Bull flag...
Outlining a range of probable upside targets from percentage gain, expanding wedge, and fib extension.
Who knows, but If expanding wedge breaks to the upside, fireworks.
Relying on Nexgen mine to be built and then riding on the infrastructure build out.
Restriction of Kasprom will leave many western sourcing there supply from Canada who as 10% of world supply, but will definately expand.
1-3 year play with high volatility
negatives
its hard grade reserves are under a lake
sprott.com
www.horizonsetfs.com
urnmetf.com...
Here's an example of where a trailing buy would be a bad idea. Mainly posting for reflection.
If you trailed the Stop buy down the Red HK candles to enter on a reversal. The R/R would have been very poor.
Also the CCI is poorly positioned and there has only been one leg of pullback.
Fission Uranium is owner of one of the premier uranium deposits in the world with Triple R. Fundamentally I think Fission will be a top performer in this bull market. For now though, Fission may return to test weekly support at $0.56 before continuing upward.
Fission Uranium market structure has shifted and looks like the uranium market reversal is done. Close above $0.76 on the daily and we are looking at a return to $0.95 area.
Most uranium companies are following the same kind of trends after testing highs earlier this year. Looking to the $0.46 mark to start off the path back to highs. Uranium sector FA is extremely bullish and Fission sits on a world class deposit. This company has underperformed for quite a while due to negative news surrounding the old CEO as well as dilution....
Here we can see a channel forming in fcu and that had recently diluted shareholders causing the price to go even lower. Now that they are funded up, this is a great time to get in. We can see some bullish divergence on the bottom of the channel. Sentiment for nuclear is slowly changing imo and for FCU which has a relatively small market cap with decent uranium...
Really nice support forming at the bottom of the channel. 200 day moving average support in play as well. Looking for this to go higher form here. Mental stop loss in around .30 cents.
