BUY IDEA: Global X Uranium ETF

The ETF has been trading in a multi-month consolidation with support between $17.60 and $18.25. One could argue that a topping structure is in play however a failure on these formations often create a buy/long opportunity. The share is trading just below its quarterly pivot, of which a print and close above would suggest further upside from the recent lows. The MACD Line and Signal is positive territory while the price is above it's 50-day EMA.

TRADING LEVELS:

Entry: 21.19
Target: 27.52
Stop-loss: 19.02