There are some “penny” stocks floating around out their in gambling land that have a good potential for significant % price moves. RPT Uranium Corp. seems like one of those stocks.
A vicious sharp short decline followed by a further gentle decline seems to have come to an end after a 72% drop in price in only a few short months. The encouraging signs are there that a reversal is either in progress or just about to start. Although the past couple of months has seen a continuing gentle decline in price the price momentum indicator was in a gentle up trend suggesting that the strength of the price decline was getting weaker and weaker. This is your often heard about positive divergence. Along with such strengthening in the momentum is the volume indicator suggesting that the speculative capital has been entering the stock mostly on the up side. The price has now moved above its intermediate term moving average line with the line still negative in slope but very, very close to reversing to the up side. Putting all this together RPT may just be on the verge of a significant move. Check with your broker or investment adviser.
A vicious sharp short decline followed by a further gentle decline seems to have come to an end after a 72% drop in price in only a few short months. The encouraging signs are there that a reversal is either in progress or just about to start. Although the past couple of months has seen a continuing gentle decline in price the price momentum indicator was in a gentle up trend suggesting that the strength of the price decline was getting weaker and weaker. This is your often heard about positive divergence. Along with such strengthening in the momentum is the volume indicator suggesting that the speculative capital has been entering the stock mostly on the up side. The price has now moved above its intermediate term moving average line with the line still negative in slope but very, very close to reversing to the up side. Putting all this together RPT may just be on the verge of a significant move. Check with your broker or investment adviser.
4 comments:
Like the technical charts and your thoughts on Uranium.
Have you looked at other stocks like TEL (Trigon Uranium Corp.)
They are a pure uranium company exploring advanced staged projects in the USA.
Trigon looks very similar to many uranium stocks. One negative at this time is lack of upside volume. Stocks don't move for long without speculative interest (i.e. volume). Comparing the two I would go for RPT.
My file includes over 150 North American traded uranium stocks (including TEL) but am always looking for those I might have missed to include.
Merv, thanks for your work on the tech side. I looked at RPT and agree with you. So does the tech analysis software from my broker, so here goes. Keep up the good work.
Tom W
Post a Comment