After The Close, 07 April 2008
The Index spent most of the day on the up side but ended the day just slightly in the negative. The upper “box” resistance line seemed to be the stopper, at least for today. The Merv’s Daily Uranium Index closed lower by 0.017 points or 0.58%. This is minor for uranium stocks. As for the winners and losers, they were almost evenly divided but with a slight negative tinge. There were 22 winners, 25 losers and 3 unchanged. As for the five largest stocks, Cameco lost 1.5%, Denison lost 0.9%, First Uranium gained 1.2%, Paladin gained 2.4% and Uranium One lost 7.3%. It was a quiet day with only one stock with a double digit move. The best performer was Yellowcake Mining with a gain of 13.3% while the worst loser was Western Prospector with a loss of 7.4%.
The Index and its intermediate term moving average line are moving closer together but the Index is still below the moving average and the average line continues to slope downward. The intermediate term momentum indicator remains in its negative zone but above its positive sloping trigger line. Nothing has yet developed to change the intermediate term rating, it remains BEARISH.
This is the second day with the Index above its short term moving average line but the line remains sloping downward. We need at least another up day in the Index to turn the moving average line around. The momentum indicator remains in its negative zone but above its positive sloping trigger line. The short term rating remains + NEUTRAL for another day.
As for the very short term, or immediate term, the Index remains above its positive sloping moving average line. The Stochastic Oscillator has moved decisively into its positive zone above its positive trigger line. Despite the down day the immediate term direction has not changed and the rating remains BULLISH.
The Index spent most of the day on the up side but ended the day just slightly in the negative. The upper “box” resistance line seemed to be the stopper, at least for today. The Merv’s Daily Uranium Index closed lower by 0.017 points or 0.58%. This is minor for uranium stocks. As for the winners and losers, they were almost evenly divided but with a slight negative tinge. There were 22 winners, 25 losers and 3 unchanged. As for the five largest stocks, Cameco lost 1.5%, Denison lost 0.9%, First Uranium gained 1.2%, Paladin gained 2.4% and Uranium One lost 7.3%. It was a quiet day with only one stock with a double digit move. The best performer was Yellowcake Mining with a gain of 13.3% while the worst loser was Western Prospector with a loss of 7.4%.
The Index and its intermediate term moving average line are moving closer together but the Index is still below the moving average and the average line continues to slope downward. The intermediate term momentum indicator remains in its negative zone but above its positive sloping trigger line. Nothing has yet developed to change the intermediate term rating, it remains BEARISH.
This is the second day with the Index above its short term moving average line but the line remains sloping downward. We need at least another up day in the Index to turn the moving average line around. The momentum indicator remains in its negative zone but above its positive sloping trigger line. The short term rating remains + NEUTRAL for another day.
As for the very short term, or immediate term, the Index remains above its positive sloping moving average line. The Stochastic Oscillator has moved decisively into its positive zone above its positive trigger line. Despite the down day the immediate term direction has not changed and the rating remains BULLISH.
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