When in doubt, zoom out. URA is forming the handle on the multi-year cup and handle pattern on the weekly. While doom and gloom besets the new investors, they would be wise to observe that this contraction is a part of a much larger pattern.
Besides, nothing in the fundamentals has changed.
There is a possibility that AMEX:URA could form a head and shoulders pattern with the neckline at $26.
If it breaks below the neckline around $26, it will validate the pattern and could see a further downside to the $23 area.
The pattern will invalidate if the price breaks above the shoulder line around the $31 area.
Uran sieht vielversprechend aus. Das erste Ausbrechen mit Retest ist schon passiert. Tendenzwechsel nach dem Basement mit anschliessendem Breakout.
Ein zweiter Retest bei 19 könnte jedoch notwendig sein bevor es richtig nach oben geht.
Once you work with Justin Mamis' sentiment cycle you start to see it everywhere.
s3.tradingview.com
AMEX:URA and uranium stocks have done very well after breaking out of a long consolidation. This perspective looks at a potential scenario for the sentiment cycle with Fibonacci confluence zones and volume weighted average prices anchored to key areas.
AVWAPs...
Uranium ore trades is at records highs, as several hedge fund managers are expanding their allocations to uranium stocks, with a conviction that an increasing embrace of nuclear energy as part of a "green" future - along with geopolitically-rooted ambitions to reduce dependence on Russian oil and gas -- means the trend has a lot of room to run.
On Wednesday,...
Buying opportunity of a lifetime in my humble opinion. Uranium equities are likely to outperform the commodity by at least 2.5x, and probably relatively quickly. I also fully expect spot prices to continue upward over 2024 and beyond.
Potential near term fundamental catalysts:
1. Major producers Cameco and Kazatomprom likely to miss production goals for 2024 and...
Multiple geopolitical and macroeconomic factors providing strong tailwind for Nuclear power.
From a technical perspective, there is a massive macro trend reversal playing out here with volume behind it, which presents a promising long-term opportunity.
DYOR.
happy trades,
CD
Uranium ETF - $SRUFF
✅ 45% increase since entry at 200 day bounce
✅ Pennant Breakout confirmed trend
🎯 Target remains 0.618 Fib Ext at $45.00
❌ Stop Raised to $26.67 guaranteeing 27% profit
(Stop placed here as it is the most recent higher
low and should remain intact for short term trend
to remains valid)
Hope this simplifies the...
AMEX:URA showing promise here at 30 and we could be looking at a turn around in price soon. Growth stocks may need to find their footing and dollar may need to soften a bit but for now, this seems like a decent spot for longs. Best of luck traders..
The green line at 27.5 was where our previous trade occured for a nice little run and is linked to this post.
Uranium ETF (URA) is firing on multiple indicators today after news of House committee approving bill to ban Russian uranium imports
- MACD Cross on weekly chart
- OBV continues upwards trajectory
- Pennant forming above 200 week SMA
- 0.618 fib level is $45 (100%+ opportunity
There is gap target of $111-$98 dollar this is quite the massive gap down after the Japan incident in 2011 that has not been retested this would be my short term target. However I will also be quite bullish beyond that target as a long term hold.
The race to reduce carbon emissions by 2050 is on. Uranium being one of the top runner up and The biggest in capacity holding of energy holds my number one spot in this new energy transition and I will show you why below.
AMEX:URA current environment
1.Market Response to Production Shortfall
- The news of Kazatomprom potentially cutting its 2024 production...
URA ETF is close to second level breakout
daily chart shows a breakout already.
monthly chart is at resistance but can move higher
in the next month. Cup and handle pattern
has formed on the monthly chart.
Electric cars will need to be charged and BYD is
going to overtake Toyota and Volkswagon in the next
decade.
While the empire was busy occupying,
China was...
