URAs breaking out on volumeUranium miners jumped over short-term resistance this morning (9 & 21 DSMAs). With strong volume at 11 am and support at 200 DSMA having held from two days ago, I'm looking for URA to maybe catch its breath at the 50 DSMA before pushing through and targeting 28 in September.
URA trade ideas
BUY IDEA: Global X Uranium ETFThe ETF has been trading in a multi-month consolidation with support between $17.60 and $18.25. One could argue that a topping structure is in play however a failure on these formations often create a buy/long opportunity . The share is trading just below its quarterly pivot, of which a print and close above would suggest further upside from the recent lows. The MACD Line and Signal is positive territory while the price is above it's 50-day EMA.
TRADING LEVELS:
Entry: 21.19
Target: 27.52
Stop-loss: 19.02
UNRANIUM READY TO 55.0 - CTSI can belive this
Is uranium ready for 549$ dollars? Unbelievable
This analysis is designed to provide information that CTS believes to be accurate on the subject matter, but is shared with the understanding that the author is NOT offering individualized advice tailored to any specific portfolio or the particular needs of any individual.
The author of the analysis specifically disclaims any responsibility for any personal or other loss or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this analysis.
8/10/22 URAGlobal X Uranium ETF ( AMEX:URA )
Sector: Miscellaneous (Investments Trusts/Mutual Funds)
Market Capitalization: $ --
Current Price: $21.60
Breakout Price: $21.80
Buy Zone (Top/Bottom Range): $21.45-$19.85
Price Target: $22.80-$23.20 (1st), $25.90-$26.50 (2nd)
Estimated Duration to Target: 30-32d (1st), 99-106d (2nd)
Contract of Interest: $URA 9/16/22 22c, $URA 10/21/22 22c
Trade price as of publish date: $1.05/contract, $1.50/contract
URA - 4:1 opportunity. Year long distribution patternWhat the market is presenting:
Neckline kiss setup
Daily view shows one year distribution pattern
Weekly view shows massive double top pattern
You don't need to know what's going to happen next to make money ~Mark Douglas
Anything can happen ~Mark Douglas
Uranium the anti-COVIDThanks for viewing.
No, not as a treatment - please don't inject uranium as a treatment (if Uranium came in a bottle it would need a warning for Americans).
Competition? What I mean is that Uranium has been on a run starting from when the equity markets showed weakness - and has yet to show signs of slowing. I'm not sure what the relationship is yet, as crude, coal, and natural gas are down in 2020, which would make them more competitive as energy sources.
Energy Security? It could be that crude, coal, natural gas, wind turbines, and solar panels all have rather long, and as we have seen, potentially vulnerable supply chains. Maybe, it is about energy security. Uranium needs for the US aren't all mined at home so that wouldn't account for it - although adding supply from long-standing allies like Australia could probably supply the needs of North America while having security of supply.
Is it about the environment? That could be part of the picture - as long as everything is well managed. There is that "catastrophic and uninsurable" hazard if things go wrong. The energy itself is clean, although the capital expenditure is considerable. Finding a long-term storage place for the waste hasn't been solved yet in the US.
Hard assets? Expectations of future inflation in light of historic levels of quantitative easing and currency printing are possibly driving the search for hard assets with use-value. As I look around the markets, very little appears undervalued. Equities, bonds, treasuries, gold all appear to be, if not over-valued, then not cheap. The most popular store of value in the world, and the destination of huge amounts of funds: treasuries don't even seem to be worth a second look at the moment and any up-tick in interest would wipe out a significant portion of those positions.
Expectations of an up-tick in military demand? I certainly hope not.
End of the bear? Maybe it has been long enough after Fukushima that people see an undervalued commodity. There has been a significant rise in plans for new nuclear power plants.
Anyone have any plausible fundamental analysis to add?
URA - Nuclear Energy isn't the answerURA failed to make a higher high and got smashed at the .786 fib at $28.25. Weekly Money Flow and Momentum coming down. URA will hit the 1 fib at $17, and most likely the .618 retracement at $12.
Fun Fact: Despite Elon Musk's endorsement of nuclear energy, just focusing on Electric Vehicles, there is a metric called the "Wells-to-Wheel variable" that measures the efficiency of different sources of electricity towards greenhouse gas emissions. Higher number the better for the environment. Coal and Natural Gas are the leading sources of electricity with Wells-to-Wheel efficiencies of 0.26 and 0.24 respectively. Nuclear Energy comes in at 0.21. Nuclear Energy comes in worse than coal, the dirtiest fossil fuel.
I noticed some Uranium explorers took advantage of this massive pump and diluted shareholders to raise capital.
Elliott Wave Analysis: Uranium Looks PromisingHello traders and investors, today we will talk about Uranium in which we see pretty nice and clean bullish development from Elliott wave perspective.
Uranium made strong and impulsive rally from March 2020 lows, clearly within a five-wave cycle which suggests a bullish reversal at least in three waves A/1-B/2-C/3.
After a completed five-wave cycle into wave A/1 at the end of 2021, Uranium slowed down into a wave B/2 correction, which looks like a complex w-x-y corrective decline that can be now approaching the end soon.
From technical point of view, ideal support is around former wave "iv" and 61,8% Fibonacci retracement that comes around 17-15 support area. So, once current wave B/2 correction fully unfolds, we believe that Uranium will be headed higher into wave C or maybe even wave 3.
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You can never have too much UraniumThis long is counter trend in some TF's. But price continues to opt-in for long as it breaks through several sources of confluence.
Most importantly the trade has a low risk / reward ratio.
Possible Context (not factored into trade):
Evolving currencies in the East are said to be backed by a broad basket of commodities.
A move towards Uranium as an energy source.
Watch Uranium for Investing Hold - Rising to 50, 100+This chart is relatively easy to read. A multi-year bottom in uranium prices has completed, and some commodity/energy experts are forecasting a rise in uranium prices. This weekly chart shows price is currently consolidating, which is the perfect time to set alerts and put on watch. I want to see stochastic %K(7), pink line, move down to 20 before buying in. If you zoom out to a monthly chart, you can see the returns on buying URA (uranium ETF) may be much better than stock ETF's over the next five-10 years, and why I suggest 50 and 100 are realistic prices.
URANIUMWhere is the world heading to?
Nuclear energy? hope that's all.
Since march 2020 crash, URANIUM has not stopped rising in value (+354%), and since December 2020 volume has began to rise significantly.
There is high probability that it will reach new highs, from 35 to 60 usd, during this year 2022.
As my XAR analysis, I really hope I'm wrong this time.
Check my XAR analysis here:
Peace&Love!
SolMar Traders.
Uranium macro play. Big time bullish.Symmetrical wedge on the monthly chart with large bias to the upside. All VWAPs and EMA clouds are underneath price, creating a great probability to push price to the upside in a big way. Current April candle is forming a bullish hammer as well (same with prior in March). Only drawback I see currently is the RSI has less room to the upside to realistically move. I've rotated a portion of my LT portfolio into $URA.
Trade Idea Update: Global X Uranium ETF (URA) +24%Trade Idea Update: Global X Uranium ETF (URA).
Closing higher by a further 5.86% in the U.S a few hours ago.
In the 7 weeks since publication, a gain of +24%.
Major Constituent Movers Since:
- Cameco +45%
- Sprott Physical Uranium +41%
- Nexgen Energy +40%
Medium term traders can look to bank profits at the open in the U.S later today.
Original idea attached.