Is UEC going nuclear?AMEX:UEC
Been long for a few months with this ticker. A lot of potential upside on this but it's a long play. Channel is holding and is still valid, we need a good bounce soon to keep it going.
UEC trade ideas
UEC bull and bear countsUEC corrected to .5 of the original trend, and printed a nice elliott in doing so. If price is moving in an elliott corrective wave, I expect more downside. The next fibonacci would be $2.50, which would be quite depressing given my January in the money calls based on my view of the market fundamentals. However, it also appears to have found strong support at the .5 level ($3.07), so a long DCA strategy would be long here, and long again at $2.50.
Buy UEC 16/12/2021You can buy UEC target 4.87 stop loss 2.78
Money management your responsibility.
I recommend entering a maximum of 10% of the portfolio.
Good luck
uranium stockuranium is possibly an emerging market. as governments look for more ways to meet their bottom line energy requirements, uranium is looking like the new oil. But you can't openly bid on the uranium market, probably a good thing, so here is a uranium stock.
Is this a good uranium pick? Is there a different one you are looking at?
UEC Are we there yet ? Bottem ? Deeper than I had envisioned. upon reaching the previous golden pocket on the shortest uptrend, the price bounced back but was rejected at $4.5.
so downtrend is extended.. now the price is already in the zone from where it could turn. we are low in the RSI and so the bulls may have the energy to move upwards again.
- red bar is the next resistance.
- blue bars are support (if bulls can't hold the $3.14 then $2.41 is next)
UEC support zone and current pictureUEC passed through the last zone of support, and found it again at $3.54. The 1D chart shows this is within the regression trend, and if the trend continues the next move should bring it to $3.80 or so. At this point, I hope to see it exit the channel to the upside, but there is now a resistance line at $3.90.
However, given the global energy picture and US policy, the future seems secured for uranium. "Uranium futures traded around $46 per pound, not far from the 2-week high of $48.15 touched on November 15th, as investors anticipate uranium demand to rise as energy firms are set to phase down coal usage following the COP26 deal in Glasgow. Recently, China reported plans to build up to 150 new nuclear reactors over the next 15 years, while Japan plans to put 30 reactors back to activity to meet emission goals. On the corporate front, the TSX-listed Sprott Physical Uranium Fund has gained 44% since its inception in July, while NYSE MKT-listed Uranium Energy has acquired USD 112 million in uranium assets from Uranium One, the world’s fourth-largest uranium producer. Meanwhile, the World Nuclear Association projects uranium demand to reach 206 million pounds in 2030 and supply to drop 50% by 2030 due to lack of investment in new mines." (tradingeconomics.com).
Uranium price is is down from the global ATH of $140/lb in 2007, and emission requirements and anti-oil and coal policy make it attractive.
UEC support zoneUEC just bounced off this support zone, and printed 2 bullish candles. I have calls in for January. 30% correction on a 200% overall move from the bottom. It also looks like this could have been the 5th wave of an Elliott, and we're in the local correction before setting a new trend.
Uranium Energy looking good for another move up. UECThis is an upward zigzag being formed here, nearing confirmation of an upward Wave C. The most recent ?1 of ?C looking impulsive. If we are right, Fibonacci form the goal posts for a few target in place. Good luck!
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
UEC: Cup'n Handle (45%), Ascending Triangle (72%)Uranium Energy is in a continued uptrend with the current materials shortage and inflation.
This is shown on the two followin graphs:
1- Cup'n Handle on the daily chart, confirmed, with a price target of 5.22$ (Left graph).
2- Ascending triangle on the weekly chart , confirmed, with a price target of 5.98$ (Top right graph).
The two graphs are a bit late in the game as most of the uptrend has already happened. But there is still some room to go.
Caution: The Weekly chart of the sector (Materials, bottom right) has hit resistance at 551.50$. This resistance must be broken (up) to confirm a continued uptrend in the materials sector. Failure to break may indicate a price action reversal .
Stay humble, have fun, make money!
URA to $5.21 (+29%)1. Uranium market suffering from supply issues
2. Spot price rising since beginning of year
3. Inverse and shoulders pattern + breakout
$UEC almost there! Almost there!$UEC cup and handle
weirtd bullflag-like structure evolving.
Somewhere between $DNN and $UUUU in terms of progress through it.
UEC retracement and setup.5 retrace from the high in mid-Sep. This is consistent with the potential inverted H&S printing. I think it not coincidental that the volume profile shows price at the point of control too.
UEC new supportNew support line formed on today’s close. Price bounced off 3.44 and closed into a bullish 1W hammer.
UEC bull signals continueIchimoku lagging span went blasting past the ATH iceline. If this day candle closes above I'd consider that a second indicator. A golden 50-200DMA cross appears to be imminent. So the next plottable zone of resistance would be $4 from 2012's high. Energy market fundamentals say energy market is bullish for the year's remainder barring any changes.
UEC to 3.44Next check at 3.44. Then 9-year ATH. Next zone based on 19 years would be near $7. Whole energy market is in a Bull cycle.
Uranium Energy Bullish case! I believe it can be considered to be bullish as long as price action stays above the yellow line! the Green arrow and the location of waves iii, iv, and v are just explanatory and I didn't calculate any price target. but In commodities wave 5 usually extend!
Do your own research and do not just buy or sell on my count/case, be responsible and smart with your money, after all, it is yours! as I do not take any responsibility!
UEC bottoming pattern and bull candles UEC performed this nice bottoming action, closed above the mid point, with 2 bullish 1D candles. Still good momentum on EMAs and MACD.
UEC Uranium about to resume upward moveUEC recently formed a double bottom on the daily chart.
Confirmation of the double bottom should happen when the peak in between the bottoms is broken. That recently happened when $2.37 was broken.
The double bottom also touches off the 0.618 fib retracement level after a strong run up beginning in November and ending in June.
The price action has poked its head above the 200 SMA which I take as a bullish sign.
Price has dipped since the open today. I will look to place a stop buy around today's high of $2.48 to see the upward momentum continue.
By this time the 9 and 21 SMAs will likely have crossed. Note this happened in July also above the 200 SMA but price fell to make the second bottom.
Interested in your views, opinions, correction and alternative ways at looking at this.
UEC long setupUEC resisted a head and shoulders by a narrow margin.
The 12 / 16 EMAs are narrowing, and appear to be ready to cross.
The MACD has just taken a sharp turn upward from oversold, and looking to cross the zero line.
When these 2 signals coincide I will enter a long position, aimed at 3.20.
1D Close under 2.07 is fail, stop out.
Will the 200 D SMA Hold as Support?Relatively new to TA analysis so would appreciate any feedback/correction/support but go easy on me as I'm still learning.
The title and chart are pretty self explanatory.
Things to Note (deprecating factors first):
-We broke the upwards trend line and saw a dramatic selloff
-Below 50 D SMA
-MACD divergence possibly coming soon
-RSI is in oversold territory
-Trend line since March 20' coming to meet price as support
I know it's not much but it's just a quick analysis and publishing to get feedback and learn.
Thanks!
