Noticed the large volume candle 29/6 and thought it might bottomed but forgot about it. Has made a nice run yesterday.
Some resistance at this level, however this still might go a lot higher.
Maybe a good entry today, Uranium futures are lower, so might have a dip today.
Looking like $FCU has found a bottom (broke out of the descending channel) as accelerated by the drop in the market as a whole in mid March. Next level to re-test would be the 0.12 and then a break to 0.15. While this stock has disappointed investors for quite awhile I am very bullish on this company moving into the next U bull market. LONG.
If we take a look at this down trending stock we can see lower lows, but if we take a look at the RSI we can see that it is making higher lowers indicating a bullish divergence . The histogram on the MACD is getting smaller and smaller, so selling pressure is getting weaker and weaker. I would not enter right now but wait and see how it progresses as it flattens...
Fission is one of the most successful exploration companies in the uranium sector. It has one the most world's shallowest undeveloped ultra-high grade uranium deposit. It has great fundamentals at a cheap price.
From a technical perspective, the RSI made a second higher low while the price made another low. This indicates a possible reversal of trend, the...
Today CEO Dev Randhawa bought 50,000 shares to bring his holdings to nearly 5 Million shares &
President/COO Ross McElroy added 15,000 to his over 2 Million shares.
Are we closing in on the bottom?
Uranium is my highest conviction idea and consumes a large portion of my book. This is the beginning of a longer-term bull market of 5 to 7 years, don't worry about the short term!
***DONT over leverage!
If you like analysing company financial, read this fissionuranium.com
Chart wise, this is what I see now. I am putting it in my watch list and monitor the price action later this week.
Have a good trading day.
