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