I have identified 3 different types of similar variations in URNM and URA ETFS which show us that we could be in a cusp of a huge explosive move to the upside.
These shakeout patterns are almost identical to each other with the same behavioural patterns before a big move to the upside. 2 humps which are almost like a H&S pattern followed by a huge flush down to...
URNM is the largest pure play uranium miner etf in the world. It has been on a good run for about 10 months, but is still lagging the underlying commodity itself. I expect the equities to outperform physical uranium in a similar fashion to what happened during 2021. Spot uranium is approximately $100/lb at the moment, I fully expect it to reach all time highs...
We look to be completing a short term corrective wave here, turning long term resistance into support coinciding with URNM finding support at the .382 Fib Retracement level last week. While I don't love this recent week's candle I'm not too concerned and will look to top up should we touch the .5 and .618 Fib Retracement levels over the next week or so.
Price...
...I cannot rule-out one final macro-decline wave towards support area 25-20.
I like the impulsive move from Mar. 2020 bottom towards Nov 2021 top, that had almost perfect match with the key Fibonacci retracements. Especially notice how Nov top at 51.75 coincides with 1.00% ext of wave (1) projected from wave (4) and near first key resistance zone of 1.764%...
Hi Guys! This is a Technical Analysis Update on Sprott Uranium Miners ETF (URNM) on the 1 Week Timeframe.
URNM was able to BREAK Above the 2 year Resistance line and close Friday with a Strong body candle close.
It was accompanied with a VOLUME SPIKE, which shows follow through and supports price action.
This is the 1st step in attempting a Trend Change.
2nd...
Hi..everybody URNM is really susceptible to retrace from that peak.....dont jump on long boat now please consider now you should prepare yourself to gain from tiny short position ....Learn how to trade and educate yoursef that is the only way to rescue you in ruthless market.....
Goooooooos Luuuuuuck
The Uranium Miners ETF has now reached the level where we expect the top of the magenta wave (b). Based on this development, we expect the wave to end and transition to significant declines, which should go below $24 and end the turquoise wave 2. If, contrary to our scenario, we see a rise above the resistance at $41.23, our alternative would activate with a...
Going along with my previous charts on UEC and URA, URNM is breaking out, with a steady RSI >50 and increasing volume.
With the geopolitical risk affecting uranium supply and the general bullish charts across the uranium etfs and miners, URNM is one to keep an eye on.
I was already bullish on AMEX:URNM and AMEX:URA ETFs and seeing these diagonal SR lines got broken was enough for me. I am concerned that this is "diddling in the middle" so very important it stays above red line at $35.26 imo. Plan is to move stop loss up.
URNM is an ETF tracking uranium miners. Uranium based nuclear energy is now
hyped as a partial solution to the climate change crisis and the dependence on
fossil fuels. My thesis is that miners will enjoy a resurgence in demand for uranium
and with supply dependent on their work they will enjoy increased revenues
and margins above relatively fixed overhead...
Hi Guys! This is a Technical Analysis on Sprott Uranium Miners ETF (URNM) on the 1 Week Timeframe.
We are currently in the process of BREAKING OUT of the Major Resistance Trend that started from November 2021.
Just KEEP in MIND -> The candle closes end of the trading week. So if end of week we are still ABOVE the resistance line thats 50% of the work done for...
TA on levels of interest for $URANM
Please note that this is a preliminary research paper and you should continue to do your own research (DYOR). Information about assets can change rapidly, and it's essential to stay updated with the most recent developments.
Notes on how I personally use my charts/NFA:
Each level L1-L3 and TP1-TP3 (Or S1-S3) has a deployment...
URNM looking good.
Alot of tightening for YEARS.
This means volatility is probably on the way.
On top of that it is a relatively untouched narrative with a powerful idea in nuclear energy behind the markets.
Currently at a great position for buys.
Uranium miners ETF on the Weekly chart
Massive bull flag, patience should be rewarded
- retracement of an impulse wave
-waiting for triangle break out
-countries moving back into nuclear power
None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and...
Confirmations:
- Double bottom
- Rising OBV
- Rising trend lines
- Extremely low Put/Call Open Interest Ratio for 5/19/23:
Put Open Interest Total 1,368
Call Open Interest Total 5,718
Put/Call Open Interest Ratio 0.24
