Im bullish on $UUUU Unless we break back under the consolidation level. With all of this war going on and XLE breaking 8 years of downtrend I believe energy sector is the next pump and $UUUU is showing wyckoff accumulation that cannot be ignored. I will be buying $UUUU from sub $3-6
appears to be in the 5th wave on the daily TF. The 5 up sequence looks good as I measured with a fib extension & have a clean W3 top around the 1.618%. Now run to the top of the expansion channel and test the 2.618% level for a wave 5.
The bulls have come out of hiding, and have started beating their chest again, calling for new highs-- but the chart says otherwise. While I know there's a lot of fundamental news that makes people want to think the Uranium sector is going higher, the chart doesn't line up with the fundamental narrative. Just like it didn't when I called for the price to drop back...
Working with my own TA and using measured moves in both price and time, bar counts and scaled angles per timeframe.
I am using as well as the 2 major parts: starting fib levels NOT AT MAJOR LOWS...
These are usually banks ripping people off to buy the dip and cause a rip. Resistance breaking bullish uptrends forming anew uptrend because of many factors, one of...
I love the fundamentals on Uranium , especially since the war in Ukraine , Europe's new realisation that it has to be more independent for energy and the push for the west to go Green. Its the perfect set up , couple this with supply and inventory limitations the price of Uranium will have to increase over the years to bring on new supplies , ~$70 spot.
I plan...
UUUU approaching cluster support area! good chances we bounce here but be ready to play downside just incase it doesn't ;)
long trigger at 8.85, short trigger 7.41
Thinking 5 up is complete now. And soon we ABC down to the mid point. Retest that price area & then re analyze. The monthly & weekly still in a strong uptrend so an ABC after 5 up to retest support would be a bullish continuation pattern. But we must wait to see upon confirmation.
Similar to $CCJ in #uranium space, $UUUU is setting up a cup with handle.
No often I post single digit stocks, but this is just below the $10 mark + strong metal momentum + strong volume on the right side makes it an appealing setup.
