Daily Outlook On YCA Yellow Cake PLCThis is my Daily time frame outlook on LSE:YCA . In the weekly view I posted recently I was looking for a breakout of the consolidation in wave 3, so far this looks to be playing out. I'm again looking for a continuation higher. I did add to my position shortly after posting the weekly outlook, declared on X but forgot to mention here, entry is shown on the chart. Spot uranium looks to be moving higher, potentially in a wave 3, and again in line with my outlook. So as mentioned on the chart comments, the levels of the impulse could get stretched if spot really gets moving.
YLLXF trade ideas
Yellow Cake (YCA), Lagging breakoutLooking at YCA i think this setup looks pretty decent for further follow through. YCA trades closer to Uranium price rather than more speculative miner plays where URNM etf is testing upper resistance for a potential third time breakout.
I feel this has legs for a short term, then longer term punch up.
Yellowcake PLC making moves
Yellowcake Plc - OTC:YLLXF - $6.64 ps
- Potential Ascending Triangle with breakout
and a re-test of underside support
The beauty of all of these stocks is that the ETF has broken out into an upward trend and now some large and smaller Uranium miners are also breaking out with similar patterns of pennant breakouts and ascending triangle breakouts. We do have overbought RSI so its critical to have tight stop losses set under the base of all moves.
Interestingly Light Crude Oil looks to be bouncing at the moment too, as is Gold and Silver.
Commodities really are starting to glow and no wonder with currency risk on everyone's minds.
PUKA
YCA - Yellow Cake breaks triangle Yellow Cake has broken its triangle formation which began in April 2022. There has been a retest at 398 although it is experiencing resistance at 448. The triangle formation in an uptrend is bullish. However, volume is low and, as a result, the breakout is weak.
NOTE: This post if for education only and not a solicitation to buy, sell or hold. Do your own research and trade your own plan.