After The Close, 21 Jan 2009
Merv’s Daily Uranium Index
Market Data
Open: 137.85
High: 141.55
Low: 132.75
Close: 139.10
Volume: 6430
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another day and another tiny move in the market. It looks like we just might continue with a basic lateral trend above the support line for a while yet.
The Merv’s Daily Uranium Index closed higher by 2.03 points or 1.48%. There were 23 winners, 19 losers and 8 going nowhere. Cameco gained 3.4%, Paladin gained 7.8%, Uranium One gained 1.4%, Uranium Participation lost 0.1% and USEC gained 0.6%. The best upside move today was made by Western Prospector with a gain of 33.3% while the worst move was by Benton Resources with a loss of 14.6%.
On the intermediate term nothing much has changed although it does look like the indicators want to perk up. The Index remains above its positive sloping moving average line and the momentum indicator remains just below its neutral line and just below its negative trigger line. The biggest encouragement is the volume indicator. In the past few days it has been moving into higher highs, well above its high from the beginning of the month when the Index made its last high. This is very positive action and should result in pulling the Index up with it. We’ll just have to wait as to when this might happen. For now, however, the intermediate term rating remains + NEUTRAL but with the indicators all so close together it would take very little upside action to improve that rating.
On the short term at the present time the Index remains below its negative sloping moving average line while the momentum indicator above its neutral line in the positive zone but below its negative trigger line. Despite the very positive indications from the volume indicator the daily volume action could be better. Maybe it will improve once the Index starts to move higher again. For now the short term rating remains BEARISH.
As for the immediate direction of least resistance, the up side seems to be improving but I’ll stay with the lateral direction for another day.
Merv’s Daily Uranium Index
Market Data
Open: 137.85
High: 141.55
Low: 132.75
Close: 139.10
Volume: 6430
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Another day and another tiny move in the market. It looks like we just might continue with a basic lateral trend above the support line for a while yet.
The Merv’s Daily Uranium Index closed higher by 2.03 points or 1.48%. There were 23 winners, 19 losers and 8 going nowhere. Cameco gained 3.4%, Paladin gained 7.8%, Uranium One gained 1.4%, Uranium Participation lost 0.1% and USEC gained 0.6%. The best upside move today was made by Western Prospector with a gain of 33.3% while the worst move was by Benton Resources with a loss of 14.6%.
On the intermediate term nothing much has changed although it does look like the indicators want to perk up. The Index remains above its positive sloping moving average line and the momentum indicator remains just below its neutral line and just below its negative trigger line. The biggest encouragement is the volume indicator. In the past few days it has been moving into higher highs, well above its high from the beginning of the month when the Index made its last high. This is very positive action and should result in pulling the Index up with it. We’ll just have to wait as to when this might happen. For now, however, the intermediate term rating remains + NEUTRAL but with the indicators all so close together it would take very little upside action to improve that rating.
On the short term at the present time the Index remains below its negative sloping moving average line while the momentum indicator above its neutral line in the positive zone but below its negative trigger line. Despite the very positive indications from the volume indicator the daily volume action could be better. Maybe it will improve once the Index starts to move higher again. For now the short term rating remains BEARISH.
As for the immediate direction of least resistance, the up side seems to be improving but I’ll stay with the lateral direction for another day.
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