After The Close, 15 April 2008
Another minor up day for the uranium stocks but on the chart it looked like nothing has happened. From the long and intermediate term nothing has but as always things are a little more fluid on the short term.
The Merv’s Daily Uranium Index closed higher by 0.99 points or 0.36%. The plusses and minuses were just about even with 21 winners and 19 losers. There were 10 unchanged on the day. Without going back into the archives I think that’s the highest unchanged we have seen. What that means, if anything, I’m not sure. As for the five largest stocks by market value, Cameco gained 0.4%, Denison gained 2.0%, First Uranium lost 0.5%, Paladin gained 4.7% and Uranium One gained 0.2%. The best daily performer was Kodiak Exploration with a gain of 7.1% while the worst daily performer was Mawson Resources with a loss of 12.2%.
As mentioned above, nothing much has happened from the intermediate term perspective. The Index remains below its negative sloping moving average line and the momentum indicator remains inside its negative zone. For the past couple of weeks the momentum indicator has stayed above its positive sloping trigger line as it has again today. Although the Index can’t seem to make up its mind which way it wants to go the internal strength of the Index action suggests a very slight emphasis to the up side. Still not strong but it’s a start. For the intermediate term the rating remains BEARISH.
On the short term the roller coaster seems to never end. The Index closed just a hair above its short term moving average line but the line slope remains negative. The momentum indicator is also just a hair above its trigger line but here the trigger is very slightly still sloping to the up side. The action remains in the “box” and just below the third FAN trend line. The location of the FAN trend lines is sometimes tricky. Although I like the equal spacing between the lines, which suggests the trend lines are valid, it is possible to move that third FAN trend line so that it just goes through the tops of the action at the end of February. That failed attempt to move through the third FAN trend line at the time may just have caused the trend to be relocated. I’ll maintain my existing FAN trend lines but should that third FAN be broken we might still want to watch how the action progresses towards where the new trend would be. Anyway, for now the short term rating has once more changed and the rating is now + NEUTRAL.
Another minor up day for the uranium stocks but on the chart it looked like nothing has happened. From the long and intermediate term nothing has but as always things are a little more fluid on the short term.
The Merv’s Daily Uranium Index closed higher by 0.99 points or 0.36%. The plusses and minuses were just about even with 21 winners and 19 losers. There were 10 unchanged on the day. Without going back into the archives I think that’s the highest unchanged we have seen. What that means, if anything, I’m not sure. As for the five largest stocks by market value, Cameco gained 0.4%, Denison gained 2.0%, First Uranium lost 0.5%, Paladin gained 4.7% and Uranium One gained 0.2%. The best daily performer was Kodiak Exploration with a gain of 7.1% while the worst daily performer was Mawson Resources with a loss of 12.2%.
As mentioned above, nothing much has happened from the intermediate term perspective. The Index remains below its negative sloping moving average line and the momentum indicator remains inside its negative zone. For the past couple of weeks the momentum indicator has stayed above its positive sloping trigger line as it has again today. Although the Index can’t seem to make up its mind which way it wants to go the internal strength of the Index action suggests a very slight emphasis to the up side. Still not strong but it’s a start. For the intermediate term the rating remains BEARISH.
On the short term the roller coaster seems to never end. The Index closed just a hair above its short term moving average line but the line slope remains negative. The momentum indicator is also just a hair above its trigger line but here the trigger is very slightly still sloping to the up side. The action remains in the “box” and just below the third FAN trend line. The location of the FAN trend lines is sometimes tricky. Although I like the equal spacing between the lines, which suggests the trend lines are valid, it is possible to move that third FAN trend line so that it just goes through the tops of the action at the end of February. That failed attempt to move through the third FAN trend line at the time may just have caused the trend to be relocated. I’ll maintain my existing FAN trend lines but should that third FAN be broken we might still want to watch how the action progresses towards where the new trend would be. Anyway, for now the short term rating has once more changed and the rating is now + NEUTRAL.
No comments:
Post a Comment