After The Close, 22 May 2008
Merv’s Daily Uranium Index
Market Data
Open: 302.51
Hugh: 314.48
Low: 294.32
Close: 304.56
Volume: 6717
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It was only a minor upside move today but still an upside is an upside. Looking at the chart the move could more appropriately be called a lateral move as the full day’s activity remained basically within the confines of yesterday’s action. We now await more upside action that would confirm a continuing up trend.
The Merv’s Daily Uranium Index closed higher by 2.93 points or 0.97%. There were 28 winners, 21 losers and 1 unchanged. As for the five largest stocks, once again they were mixed. Cameco gained 1.6%, Denison lost 2.6%, First Uranium gained 1.3%, Paladin lost 2.4% and Uranium One gained 3.2%. The best daily performer was Mawson Resources with a gain of 21.2% while the worst daily performer was Tournigan with a loss of only 5.0%.
The small daily Index move did nothing for the intermediate term. The Index is still above its positive intermediate term moving average line. The momentum indicator is still in its negative zone but above its positive sloping trigger line. The volume indicator continues to move higher above its positive trigger line. The intermediate term rating remains BULLISH.
On the short term the up trend is well established by the Index continuing above its positive moving average line inside its up trending channel. The short term momentum remains deep inside its positive zone above its positive trigger line but not yet inside its overbought zone. The short term rating remains BULLISH.
As for the immediate term direction of the Index, it continues above its very short term positive sloping moving average line. The very short term line continues above the short term line. The Stochastic Oscillator remains in its positive zone but has moved just a little below its still positive sloping trigger line. This is not yet a problem. All in all, the immediate term direction of action remains to the up side.
For those of you who may be around the Toronto area on 01 Nov 2008 you might want to take in the Toronto Technical Analysis Summit. Yours truly is expected to make a short presentation at the Summit. I will keep you better informed as to when, where, why, how, etc. as we get closer to the end date.
Merv’s Daily Uranium Index
Market Data
Open: 302.51
Hugh: 314.48
Low: 294.32
Close: 304.56
Volume: 6717
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
It was only a minor upside move today but still an upside is an upside. Looking at the chart the move could more appropriately be called a lateral move as the full day’s activity remained basically within the confines of yesterday’s action. We now await more upside action that would confirm a continuing up trend.
The Merv’s Daily Uranium Index closed higher by 2.93 points or 0.97%. There were 28 winners, 21 losers and 1 unchanged. As for the five largest stocks, once again they were mixed. Cameco gained 1.6%, Denison lost 2.6%, First Uranium gained 1.3%, Paladin lost 2.4% and Uranium One gained 3.2%. The best daily performer was Mawson Resources with a gain of 21.2% while the worst daily performer was Tournigan with a loss of only 5.0%.
The small daily Index move did nothing for the intermediate term. The Index is still above its positive intermediate term moving average line. The momentum indicator is still in its negative zone but above its positive sloping trigger line. The volume indicator continues to move higher above its positive trigger line. The intermediate term rating remains BULLISH.
On the short term the up trend is well established by the Index continuing above its positive moving average line inside its up trending channel. The short term momentum remains deep inside its positive zone above its positive trigger line but not yet inside its overbought zone. The short term rating remains BULLISH.
As for the immediate term direction of the Index, it continues above its very short term positive sloping moving average line. The very short term line continues above the short term line. The Stochastic Oscillator remains in its positive zone but has moved just a little below its still positive sloping trigger line. This is not yet a problem. All in all, the immediate term direction of action remains to the up side.
For those of you who may be around the Toronto area on 01 Nov 2008 you might want to take in the Toronto Technical Analysis Summit. Yours truly is expected to make a short presentation at the Summit. I will keep you better informed as to when, where, why, how, etc. as we get closer to the end date.
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