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.
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...
A trader bought 1,000 of the URA Apr 16 Calls for $0.55. Over 4,700 have now traded on that representing nearly 16 times the average daily option volume in URA.
