UUUU meltdown updateB leg was adjusted but no change in overall plan. Waiting for a violent move lower. Aiming for $4, $3 and $2 is on the table.
EFR trade ideas
$UUUU 'set it and forget it' to a 10xChart says it all. Macro tailwinds across the board for both commodities, and especially Uranium. IMO over the rest of the 2020's we see governments across the world push heavily into Nuclear Energy (NE), and public narratives shift in favor for NE. July 2023 was the hottest on record and we seem to be making new records every year. All it will take is one major climate event for narratives and funding to shift towards NE in a very big way, as its really the only practical 'green' energy source for us at the moment.
Energy Fuels Stock: Potential Reversal Ahead?AMEX:UUUU
After reaching a low of $0.78 in March 2020, AMEX:UUUU has been on a recovery path. Currently, it's forming an inverted head and shoulders pattern, with the key neckline at $7.47. A breakout above this level could signal a move towards $9.73.
However, watch out for the bearish alt-bat pattern near $9.73, which could lead to a pullback. Stay alert for key price action and adjust your risk accordingly.
⚠️ Note: Any violation of the $4.19 support would invalidate the projected patterns in this idea.
Uranium Sector: Bullish OutlookThe uranium mining sector appears to possibly have found its bottom.
Since September 2024, many uranium stocks have formed comparable Elliott Wave 1-2 structures.
The Wave 2 correction may now be complete, positioning the charts for a potential surge as the anticipated Wave 3 begins.
In my eyes, the following companies are the hottest prospects:
Energy Fuels Inc. and Uranum Energy Corp. are the first uranium companies in the US, which already are in production. They will money-wise profit immediately from the growing demand for Nuclear Energy in America.
Uranium Energy (UEC) has the highest possible and licensed production capacity in the US (12.1 M lbs Uranium per year) and will probably be the biggest US-Player.
Here is the UEC-Chart:
Denison Mines Corp. and Nexgen Energy Ltd. are uranuim mining companies, which engage in exploration and development. They both have very high grade ressources, but they wont go into production for at least 2-3 years. Either way the market seems not to be bothered by this circumstance. The future success of their projects is getting priced in heavily.
Here are the two charts:
Uranium Royalty Corp. (URC) is the first and only Royalty-Company in the Uranium sector. They are also holding Physical-Uranium as an investment, anticipating higher uranium prices in the fututre. The companie has connections to Uranium Energy and the whole management is very experienced. I think they as well are in a great position, to profit from a Uranium-Bullrun.
Here is the URC-Chart:
UUUU wycoff is in the houseOk so, monthly time frame looks like a big cup and handle.. in the consolidation ive labeled what i think could be a wycoff accumulation. The measured move of cup and handle lines up nicely w the 2.618 extension of the accumulation range we are in. Risk; i would not like to see it move back below 5$. as a kicker, looks like a potential inverse h/s in the last part of the move that targets the top of range around 10.50...Do your own DD and never just trust some guy on the internet, but as for me i like the stock
UUUU eyes on $6.52: Golden Genesis fib to break and run? Uranium and nuclear stocks are exploding (lol).
UUUU moves a lot on its own, might be on verge.
Look for break and retest or rejection to support.
$ 6.42 - 6.52 is the zone to be flipped.
$ 8.29 - 8.35 is the major target above.
$ 5.96 - 6.00 is near support, SL below.
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Uranium double bottom, about to nuke orbit (options play inside)Uranium about to have another leg up once the FED cuts rates this summer. MACD is almost turning over.
Calls for August are going for .12, wait till the double bottom and they should be around .10 or less and scale out at 1.00 or higher. That's 1000% return for waiting a couple of months. NFA.
UUUU Energy Fuels Bull FlagBroke above the cloud today but was rejected by the upper trendline. Flies to the moon once it breaks. A very safe American uranium producer with one of only 3 licensed uranium mills in the USA. Another one that will benefit greatly if/when HR1042 passes.
Time horizon is 1 year minimum. Price target is $30+. Don't try and get cute by trading these equities, the train will eventually leave the station and I believe it is imminent.
I am very passionate about the uranium bull market in progress, feel free to ask me anything.
Cheers!
$UUUU breaking out? UUUU has been trading within this long-term range for 2.5 years or so. The EMAs confirm a range bound environment. It may be printing a higher low/back up after s sign of strength, if this was to be considered a Wyckoff re accumulation range. Narrative around the uranium industry is slowly changing globallly and becoming more positive. People are also becoming more aware of the uranium supply/demand imbalance which is looming.
Would look for a weekly close above $8 to help us confirm this is a breakout, higher volume would also be a confluent factor.
UUUUUranium sector will be moving into exponential growth come the next 3-4years expecting this to be multiples higher around 2026
Potential for a flush entry towards the end of this year early 2024
But it looks very strong consolidating near the end of this 2 year bullish pennant structure, so I'm quietly doubtful of a flush just more sideways chopgrind don't think there's many sellers and buyers are hoping for an opportunity to step in by the looks of things.
