The uranium thematic is hot right now. We've flipped the $3.28 level into a support zone. I'd be happy to watch it chop between $3.28 and $3.81 for a couple of months to regain strength, then make a rally to challenge the Oct 2021 high.
Long term I'd like to see this thing do $5-$8. Still a lot of price discovery to do first.
ASX:ASX #ASXBETS #uranium
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Lets look at the longer timeframe. Stoch RSI looks to turn up.
We are breaking throught the 36M SMA and 12M SMA, as it seems.
Momentum has been reset in addition.
300% sounds unrealistic? - The company was valued the same 2011, that`s why we have a confluence of resistance in this area in addition.
One of the Uranium instruments that look quite attractive at...
The typical Wave-2 target has been met.
We have retraced more than 0.618 and as it looks right now we could be heading for the Wave 3. The 1.618 extension would make 300%+ possible.
We have a confluence of resistance in this area in addition.
One of the Uranium instruments that look quite attractive at these valuations.
Not my idea but have to agree this is a great opportunity.
Near term catalysts:
- SPP outcome to be posted after market today (ASX), IMHO likely way oversubscribed. Investors will be scrambling to get those orders filled with their returned cash when the new share start trading on Wednesday 27thApril.
- URNM becomes Sprott Uranium Miners ETF and starts trading...
This is an OTC Uranium miner stock based out of Africa, they are lagging the big majors like CCJ &UUUU GLATF as far as most recent push off the retracement that tested 618% gold fib ratio. Looking for a wave 5 push to around .49c possible moon shot to .61c
see the bullflags with their gradients here. The resistance lines are clear. Backtesting, and up we go again tomorrow, as long as U SPROTT keep sit together - drew tha elsewhere.
Bullflag to bullflag to bullflag. Then bounc off hot pink and spin a handle
A few moves left? It's opening at the MM target again! Can only come back??
Glad to see a structure to play with now, so its tradeable in my eyes.
Maybe this? Or could shoot even further up the shoot. But there is an apex there. WHether it explodes higher or what.. we have a scaffold to guide us.
Although I am long term bullish on this stock, the weekly chart there seems to be some signs of weakness in momentum.
Peaks are showing spinning top candles while RSI is making lower highs and lower lows; if we have a similar pullback to the previous two peaks, we may come back into a high supply zone around 0.150$ - 0.160$, which would create a new 'higher low'....
