Uranium has been under pressure for ages. But now the trend seems to be changing with new ATH on monthly RSI and price knocking on a b/o. When above 17 this could target 24.
A tiny stock, which has broken out, now with "Golden Cross"? Thoughts
This investment idea is not written for the ethical investors among us. ;) Nevertheless, I would like to show you the possible reversal in the uranium miners trend. The monthly chart clearly observe bullish divergence (incl. Falling wedge). In addition, an inverted hammer is formed this month. If the bottom is set, then I see a lot of upside potential for the URA...
Taking a long position here. This is the only unhedged uranium miner in the industry. They had halted production during the low U prices, but prices are on the upswing and they will capitalize from it. Their in-situ recovery method is established, they have reserves, and they own a ton of property in the USA. The best part of the story... the CEO is Iranian...
CCJ retesting triangle break out. Positive divergence exists here as well as in most of the uranium stocks and can be seen by a mile. Sector is so depressed the last few years that sentiment is touching the floors. Good R/R for long term positions. Cheers, Panos