Weekly RSI at levels that it only is at a few times over the last 5 years (insanely oversold), DAily RSI just ticked up at a major support level $10. Uranium as measured by $U is showing a major divergence on all time frames 4h/1d/1w . URA (largest uranium ETF) bullish gartley on weekly timeframe.
Date of putting the order: 2. 4. 2019
Date of purchase: 3. 4. 2019
Date of sell (all shares) first target: 10. 4. 2019
Risk of the portfolio 0,66
How many shares: 90
Where will I enter the market? 11,67
Price in 11,67
Profit taker 12,99
Stop loss (na most recent higher low) SAR(0,2;0,02;0,2) 11,27
How many shares on first target (write when sold) 90
Levels from early 2000's have been defended with solid buying support. Rising Uranium spot price benefits the producers, and CCj have the luxury of some of the biggest reserves on earth. Fib trends from two blowoff tops on previous rallies lead to a clear confluence of the 0.382 from 2007 and the 0.5 from 2011.
Expected timeframe is 2-4 years depending on...
Lots of chatter about Uranium being at the start of a new bull market but this count would suggest that there may in fact be another leg down. I reckon that at the moment we could be seeing the final up leg of a 4th wave correction in a C wave to be followed by a 5th wave down to new lows.
Plenty of chatter about the possibility of Uranium and related stocks starting to climb after years in a bear market. Trying to work out this long term correction was all but impossible for me and I'm not that convinced by my count. However this count suggests that the bear market is not over and reckon that the present uptrend may be just a 4th wave correction...
Arrived at the lower support line quicker than i expected, picked up 300 at 9.65, of which it then fell further. sitting quite uneasily on the Fib 0.5, a downtrend and a uptrend!
Positives its above the support line for the third time. needs to stay there.
Negatives the RSI is still in a downward trend.
Are the miners leading the way for a fall in the Uranium price?
Recent changes to using domestic sources of Ur (Uranium symbol) for nuclear power.
Cameco Corp. is also at an extreme low due to the 2011 psunami that hit Japan that
had back-up power failure causing a melt down and Japan shuttering 32 Nuclear
Power Plants until they had full double fault protection to prevent such from ever
occuring again. They...
Cameco Corp. Mining Uranium stock likely recovers in breakout of FIB retracements 0.5 (recent down) and 0.382 (recent up) and near 9.81 or drop below 9.50 to 8.95-9.25 resistance.
Point of interest:
* Uranium prices beaten down since 2011 Fukashima Reactor melt-down and back-up generator cooling failures from psunami hitting Japan.
* Japan shuts down all of...