Uranium stocks woke up this week
My only position, UUUU is the laggard. Regrettably, I didn’t buy back NXE because it didn’t pull back, and now it’s gone. But UUUU is my first choice, anyway. So, is this something real or is it a traditional rotation of the machines roving through an outlier commodity patch?
Below is the chart we use in NFTRH each week to keep up on the situation. From NFTRH 670…
The Uraniums have generally held the 200 day averages (not shown on the lower panels). My favorite continues to be UUUU, which conveniently for last week’s buy, has not run like some of the others. If the sector exits its correction I’d also like to have NXE in the 4 to 4.25 range. The sector is still in the process of attempting the correction’s end.
CCJ is testing the SMA 50 as resistance and it has a gap down at the SMA 200, so a short-term pullback may be expected.
URG lurks below the SMA 50 and resistance.
If the Uranium Trust has a say (and it does), the correction has ended.
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