A resistance or support is like a door, the more you hit it, the highest chance it may break.
Goviex has a huge uranium deposit in Niger.
There is also some political risk as Niger defines political risk.
The stock could trade sideways for some time, but in the mid to long term I expect this stock to do well once uranium prices move higher.
This stock is ready to advance even higher. Currently sitting on an old resistance line that goes back to 12/2017. Next level is 02/2017 resistance line which is previous 52wks high. Looking good. Bullish flag completed its consolidation. Good luck
Price is sitting right at 50DMA. Looks like an asymmetrical double bottom. Current drop in price do to geopolitical conflict was a gift for those who was able to get those shares at a deep discount. The price movement of this stock will certainly depend on a current spot price movement. Watching closely to breakout of resistance line.
Finally after many attempts, GVXXF has broken out of the downtrend. I expect to retest the trend at around 0.10 once more before moving towards the next resistance at 0.17 - 0.19. The dips until we reach that resistance are for buying.
Uranium stocks are down 95% from their peak. There has been no energy source that has a better efficiency . Nuclear Power plants are better IMO. They about 1.5 to 2 times more as natural gas and coal units, and 2.5 to 3.5 times more reliable than wind and solar plants. Furthermore Iran cancelled it's Nuclear. Well guess what? Nuclear Bombs are made out of Uranium....
This stock is testing a 3 year trend line on the weekly time frame while building a strong 12 month base at the .15 cent level. That is bullish. Some may argue it has already broken out, but from my vantage point, it will sometime in the next week or two.
Keeping it simple. Flip to support from previous resistance with a strong wick rejection on the daily for confirmation. RSI Bullish divergence with the MACD bullish cross over.
Looking good! HODLing my position right now in profit.
Marc
