Since Fukushima uranium got itself rekt, because fear and terrible PR. But... world needs power, so far the most efficient method of providing this is to nuke it up. Fundamentally there is a reduction in supply of uranium or at least a slowing so currently I believe we are in oversupply, but many plants are being built world wide to be completed in the coming years which will begin to eat into this backlog.
The charts are interesting to me because:
Multi-year lows, tight BBands. Large volume on the riskier URA recently. Bullish T/K cross on Vaneck, URA is looking to follow in the coming months. Perhaps I am early in calling this. Looks like there has been decent accumulation over the past year. Also the weekly has been very bullish for URA the past few months. And I've been eyeing up uranium for over a year now.
I am In this for the long term. 2-3 years. With two targets at resistance/fibs/Kijun flats but will probably start down sizing as price approaches these rough targets.
Be aware that Global X Uranium ETF (URA) has significant exposure to penny stocks and will therefore be more volatile with inherently more risk. Vaneck is a safer play (albeit with less upside potential).
The charts are interesting to me because:
Multi-year lows, tight BBands. Large volume on the riskier URA recently. Bullish T/K cross on Vaneck, URA is looking to follow in the coming months. Perhaps I am early in calling this. Looks like there has been decent accumulation over the past year. Also the weekly has been very bullish for URA the past few months. And I've been eyeing up uranium for over a year now.
I am In this for the long term. 2-3 years. With two targets at resistance/fibs/Kijun flats but will probably start down sizing as price approaches these rough targets.
Be aware that Global X Uranium ETF (URA) has significant exposure to penny stocks and will therefore be more volatile with inherently more risk. Vaneck is a safer play (albeit with less upside potential).
Comment:
excellent buying opportunity here in URA.
Comment:
worth watching this kumo twist:
