EFR trade ideas
UUUU January 2021 sideways movementUUUU is seeing a dominant sideways trend after having recently shot parabolically beyond the $4 range from ~1.50 which is likely to last into the 3rd week of January. Alternatively, UUUU could also break the resistance in the $4.40-$4.48 range to retest the $4.8 resistance. On the bearish side, we could fall to $3.68, the previous line of support, if the commodities narrative is doubted by the market.
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.