Uranium stocks have a tendency to consolidate after nineteen to twenty-one weeks of selling pressure. For most uraniums the August 16th panic low came within that time window. The majority of the lower priced issue have rallied by 40% to 60% from the closing low, but found resistance around their 50 and 200 day moving averages (and still well below the April and July highs).
History shows that the panic lows are usually tested seven to nine weeks later, providing a targeted time window from now through October 19th. The strongest equities in the sector should establish a ‘bullish step-up’ or divergence in the volume and relative strength oscillators.
History shows that the panic lows are usually tested seven to nine weeks later, providing a targeted time window from now through October 19th. The strongest equities in the sector should establish a ‘bullish step-up’ or divergence in the volume and relative strength oscillators.
