ENERGY FUELS (UUUU) - Weekly Shaping-Up
Despite a challenging and difficult environment for Uranium, Energy Fuels (UUUU) broke-out two (2) weeks ago and is starting to show some signs of life.
While the Uranium sector as well as numerous Commodities overall have certainly lost the eyes of many an investor/trader, UUUU has caught our attention from a technical standpoint as well as having just released earnings two (2) weeks ago, which were positive.
From an intermediate and longer-term time-frame, we believe that UUUU has $5 - $5.50 potential for those swing/position investors/traders.
While we could envision a pullback to the $2.75 - $3 area, if such were to materialize, we believe that such level/s provide for a decent risk/reward entry.
Uranium
URA Uranium Potential BreakoutLets keep it simple! ish..
A few things to note about uranium...
One of the most over looked assets.
Most energy efficient source.
With crypto currency mining, and other increases in electricity use, will increase demand for alternative energy. (isn't that what everyone's striving for? alternative energy?)
Look at this beautiful chart, bouncing at the bottom around 11.50 respecting it for almost 3 years now. This is massive accumulation, which is also coming to the end of its wedge and 8 year downtrend. We will see action new years.
Also the WEEKLY has squeezed and fired long, technically confirmed with the positive momentum on the last week close.
The MONTHLY around 2016 was one of the only god mode buy signals in the history of URA, at 11.30ish bottom at that time. (Not the best indication, but its there to look at)
With all the low key news about uranium, trump supporting alternative energy, and a large amount of nuclear reactors being constructed, reopened and planned for, the signs are there.
Also the supply of uranium has been reduced drastically by the suppliers, to ultimately increase price and demand. Were floating at the "cost of production" price, which cant really go lower.
Im long term on URA, this is a 3 year minimum hold for me, ill be accumulating 11 to 13 area until a breakout or stop loss right under 10.
Happy trading, its never legal advice, I want everyone to win!
URA LONG - Buy the dipsMaybe u have allready heared the good news for Uranium.
Cameco CCJ has shut down its largest mine. This accounts to 10% of global Production. Together with another cut from other companies this totals 15%!!
France was going to stop relying on nuclear power. It came back on that promise and will continue to build nuclear power facilities.
Asia has a massive buildup in nuclear power plants. Japan will soon re-open its nuclear power plants.
This is great for Supply/demand plays.
Technically this looks great aswell. After a prolonged bear market in Uranium, things are changing.
It broke its long term downward trend on 9 November.
Pulbacks should be welcomed and are buying opportunities.
Key resitence are 16 and 19.24. I used Fibonacci to calculate possible resistence levels.
Not to forget URA gives a DIVIDEND off 6 - 7%!!!!!
Uranium long term uptrend. Crypto miners energy consumption up.Long term uptrend after big announcement from many big Uranium company's that lower there production for 2018. The sector had a bad reputation after nuclear failures in the past. The high and rising energy consumption of today and proven future continue to open more nuclear energy factories for 2025, old factory's are not quitting until 2025 because of the high energy consumption. The crypto miners of today and future gonna take a lot energy consumption, for sure when the price keeps rising. RSI tops every time above the 70% range. Every low around 60% is a buy opportunity. Volume is rising as more interest is flowing to the sector. Good signs of support, every support stops a small sell off.
Is the Uranium meltdown finally over?This may be the key resistance break Uranium investors and speculators have been waiting for. The entire Uranium sector has been one of the saddest beaten dogs I've seen in a while - wrecked for years after Fukushima...That fakeout in early 2017 was brutal for top buyers. All it seemed to take was CCJ shutting a mine down recently to light a fire under this dead dogs ass and we've seen a rocket ship rally since...I've been long URA for a while and am now interested to see if we finally have the conditions to sustain a longer-term uptrend.
The road to $30 is loaded with resistance, however, given enough time I think bulls will begin testing higher levels. I am a buyer of dips and will sell portions of my position on spikes as this is clearly a very volatile sector.