For all you U heads out there, a look at a stock that is leading the sector. While most of the sector is in a deeper correction mode within an ongoing uptrend (CCJ, for example, has tested its daily SMA 200 while UEC, URNM, the u3o8 price, etc. are still in correction mode below the 50 day averages) prime Uranium mine developer NXE is above its SMA 50 and in a daily chart symmetrical triangle, which is usually thought to be a “continuation” pattern.
Just an FYI on a picture that could be indicating quality within the wider sector and possibly even a positive hint for the sector itself. Of course, NXE has to break the top triangle line to prove a bullish situation.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
