It had been noted that I sold URG with some level of remorse. Well that impulse is responsible for my having bought back part of the position today before it got to the noted support around 1.50. That’s between URG and me.
But I wanted to highlight the buying opportunity that is setting up for anyone who may be interested in this stock, or the sector in general, which is also correcting its over bought status.
The monthly chart of URG is cut and dry. Support is at 1.50.
The daily chart paints in some detail and shows that 1.50 corresponds with the 50 day moving averages. This is a buy point for those who like the stock for fundamental reasons. I would plan to add there.
The URA fund got quite over bought as well and could drop all the way into the 16’s. I plan to be much more selective in trying to buy URA back than I was with URG.