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Sprott Physical Uranium Trust

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SRUUF trade ideas

$SPROTT Physical Uranium in 2 year coiling triangleAfter a surge of prices in SRUUF and spot uranium in 2023 - nearly doubling from ,from ~$12 to ~$24 - SRUUF spent the entirety of 2204 retracing back to around $16-17... forming a triangle pattern that is gettin increasingly tight. At some point in 1Q or 1H this year believe the commodity will start a bullrun that could last years driven by increasing demand At Goldman CCJ conf: "The industry is seeing demand the likes have never been seen before"... Pariticularly, in the last half oft 2024, the market has seemed increasingly interested in developing nuclear power solutions to power all the new AI data centers in a green way. New tech is faciliting this. Even if many of the new reactors don't come online for years, firms will be stockpiling have to start stockpiling Positive technical developments on the montly chart: that suggest SRUUF will break to the upside out of this triangle in coming months: -Recent Positive Divergences in the BBP (bull bear power) and WIliam %R -Oversold RSI suggest retrace is long in the tooth and the CCI is at the -100 level where its bounces every time since 2022 On top of that we are sitting near the anchored VWAP since inception for the first time in a year and that has been a supportive chart point area ever since. The volume profile suggest that should occur mostly between the range of 16.9 and 20 dollars. If vwap fails and it breaks out of the triangle to the downside, possibility of a quick move down to the 13 area
OTC:SRUUFLong
by Cuth9
Rising Demand for $SRUUF uranium to rise steadily riseAfter a surge of prices in OTC:SRUUF and spot uranium in 2023 - nearly doubling from ,from ~$12 to ~$24 - OTC:SRUUF spent the entirety of 2204 retracing back to around $16-17... forming a triangle pattern that is gettin increasingly tight. At Goldman NYSE:CCJ conf: "The industry is seeing demand the likes have never been seen before"... Pariticularly, in the last half oft 2024, the market has seemed increasingly interested in developing nuclear power solutions to power all the new AI data centers in a green way. New tech is faciliting this. Even if many of the new reactors don't come online for years, firms will be stockpiling have to start stockpiling Positive technical developments on the montly chart: that suggest OTC:SRUUF will break to the upside out of this triangle in coming months: -Recent Positive Divergences in the BBP (bull bear power), WIliam %R -Oversold RSI suggest retrace is long in the tooth and the CCI is at the -100 level where its bounces every time since 2022 on top of that we are sitting near the anchored VWAP since inception for the firs time in a year and that metric has been a supportive price point in the past, We be stuck chopping around here a couple months or more but I think the stars are aligned for OTC:SRUUF and physical uranium to outpace other commodities for year, perhaps many, to come
OTC:SRUUFLong
by Cuth9
1
Uranium update August 2024- Where are we in the cycle? • The overall stock market has experienced a liquidity crisis due to the Japanese Yen Carry Trade, which has caused significant weakness. Recession fears and market uncertainty surrounding the US election, along with concerns that Federal Reserve rate cuts may come too late, combined with rising unemployment and escalating conflict in the Middle East, have further exacerbated the situation. • This has severely impacted uranium stocks, causing substantial technical damage to the equities. • Markets are expected to remain incredibly volatile until November, when there may be more clarity regarding the economy, the election, and interest rates. • Despite this, markets are likely to continue climbing the “wall of worry” into the new year. • Market sentiment is extremely fearful and bearish, which can be interpreted as a bullish signal. • The markets appear to be on the cusp of a new liquidity cycle. The Sprott Physical Uranium Trust is currently in a multi-year accumulation phase, characterised by a 7th wave correction forming into a falling wedge pattern. During the last bull run, Sprott experienced a similar 7th wave correction within the accumulation phase, which was merely a flush-out before a significant upward move. This correction was nothing more than an Expanding or Flat correction. CCJ and PDN experienced similar flat corrections in the last bull market, and this could be a similar pattern but on a larger scale.
TSX:U.UN
by AxeCapp
Big Move for Sprott's Physical Uranium Trust ahead if ... .Sprott's Physical Uranium Trust did it finally: It broke out of the confluence formed by a horizontal resistance zone from Oct. 07 and the bearish wedge to the upside. The new target now is high from April 07. However, there's some water in that wine: The breakout is not really supported by volume and the daily chart shows that momentum has been fading for a while now. So a direct continuation of the recent rally becomes more likely if volume picks up next and we see some decently sized green candles immediately following the current one so a bearish divergence (e.g. in the MACD) can be negated rapidly now. If not, a pullback down to CAD 25.20 or 22.60 becomes more probable to me. Things become bearish if price drops below 22.60. Below that, price might tank further down to 20,20 and even 18.00. If that happens, something must have changed fundamentally, so I don't know where things could go from there. Strategy idea how to play this: One could remain bullish until 22.60 and regard CAD 25.20 and still 22.60 as buying opportunities. However, one should seriously consider putting a Stop Loss below 22.60 in the weekly chart. If someone doesn't own U.UN yet: One could enter with a fraction of the intended position now to get a foot in the door, see if the pull back happens, and buy the other fraction(s) once the pullback targets might be be reached.
TSX:U.UNLong
by guba3817
Uranium: Ready for the drop💣The price of uranium has moved significantly higher over the past few days, approaching the expected high of the turquoise wave 2. As a result, we expect the price to begin a longer-term downtrend in the not too distant future This is necessary in order to form the superior green wave (C), the end of which we see likely just above the support at $12.17. The focus now is to ensure that the price does indeed form a top and does not continue to rise. There is a 39% probability that the alternative scenario will materialise and the bullish trend will continue if support at $17.96 is breached.
TSX:U.UNShort
by MarketIntel
1
More rainbow colours As always recognize that I know nothing about charting, my ta is superficial at best and no investment strategy should be based on my thoughts. That said....U looks like a nice slow ride with a tornado inside it waiting to be released. I'm buying under the blue bar, watching if it breaks the trend. My stop is tight so if if breaks from the channel I'm out. If it completes the flag support will be solid and I anticipate a leg up from there into the $16 range.
TSX:U.ULong
by Honkytime
Quick uranium spot analysisUranium is in play from July 2021. Spiking in September 2021 and April 2022 with minor highs in October 2022 and February 2023. Current range is around 13.50 and 19.00. Prices might drop below this range but strong fundamentals is needed. Seems like traders who are long will hold their positions waiting for fundamentals. I don't think any strong buyer will come to market in 2023. But if market forces will move the price to lower range at 13.50 some fight for the price will emerge.
TSX:U.UN
by UnknownUnicorn462803
Sprott Physical Uranium Trust at CrossroadsBulls and Bears are fighting it out in a key support zone: Bullish: - Hammer candle may form in key support zone provided by an open gap that may not get completely closed today (may still change today) - Support also given by uptrend line that hasn't been broken as of now (may change until close, though) - Slight bullish divergence in price and OBV that doesn't seem to print a new lower low right now Bearish: - MACD and Arron Up and Down turned bearish today, which confirms a new downtrend - Key support zone under attack, gap may still be closed today - uptrend line is under attack Conclusion: A bear trap may be forming right now. However, if the hammer candle won't be confirmed by another decently large green candle tomorrow, it might be time to abandon ship here.
TSX:U.UN
by guba3817