VO51 trade ideas
Good example of 'getting out on the bounce'I admit I held onto UUUU way too long - total fail. I had planned to get out on the first bounce after the announcement at the end of Dec. that UUUU was devaluing by issuing additional shares. I did not prepare and the bounce occurred without me. Another post here noted that more than 10% loss is increasingly difficult to recover. Certainly true on this one. I think at this point, there are many people sweeping this one off their desk. I'll be out on the next bounce (if it does occur) and just take the additional lumps with me.
Energy Fuels continues to build out the flag/rectangleWorking sideways and building out a text book rectangle that might start to slant downwards into a flag. Measured move will put this up into the $6.20-$6.40 range. Volume is declining and MACD has crossed under. RSI is also back under 70.
Consolidation target for a drop out of this zone would be $3.50-$3.60 which intersects with the kijun, cloud, and volume defined support. Great buy opportunity if it happens or wicks down.
EFR (UUUU) exit levelsTSX:EFR or AMEX:UUUU are the same stock (the leading uranium mining and developing company in the USA).
Good news: they got a confirmed order of $150 million worth of government purchases of uranium.
Bad news: it will start in 2021
Don't want to wait until 2021 so have decided to exit from this stock for now and check it out in Nov-Dec 2019.
The exit levels are above. Set up my exit at $2.43
Techincal analysis on UUUUAMEX:UUUU
Pros: Price is above daily green ma. RSI just closed above oversold and stoch rsi is also looking good. Waiting to hear on news of how much funding it will get. Mind the gap down above so that's promising also.
Cons: Price under .236 fib and fighting weekly thick purple trend line.
Some chart info for those interested:
Moving averages are exponential. Indicator is by LazyBear called 8x MA with configurable lengths
Green: EMA 10
Skinny Red: EMA 20
Thicker Red: EMA 26
Orange: EMA 50
Light Blue: EMA 100
Dark Blue: EMA 200
Skinny Black: EMA 250
Skinny Purple: EMA 300