After The Close, 22 Apr 2009
Merv’s Daily Uranium Index
Market Data
Open: 146.03
High: 154.91
Low: 143.78
Close: 151.23
Volume: 6799
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
It was a relatively good day today but we still need a little more before we can say that the Index is on a break-away. The action remains inside its slightly up trending channel. The closing price just exceeded its previous recent high close from last week but is still a very small fraction below its previous recovery high from early January. An up day tomorrow should get us into new recovery highs. However, the momentum indicators are holding back and not in sync with the Index action. It’s a wait and see what is going to happen next.
The Merv’s Daily Uranium Index closed on the up side by 5.01 points or 3.43%. There were 36 winners, 7 losers and 7 going nowhere. That’s a good ratio of winners to losers. As for the five largest stocks, all were in good shape today. Cameco gained 2.7%, First Uranium gained 3.7%, Paladin gained 5.1%, Uranium One gained 8.9% and USEC gained 3.3%. The best gainer on the day was Tournigan with a gain of 26.5% while the loser on the day was Freewest with a loss of 7.8%.
Everything is back in sync on the intermediate term. The Index remains above its positive sloping moving average line. The momentum indicator has moved above its trigger line in the positive zone. The trigger has also turned to the up side. Although the volume indicator continues to move nicely above its positive trigger line there is some weakness shown. Two down days resulted in the indicator moving somewhat lower. Now we have two up days and although the indicators has moved back to the up side it has not exceeded its` level prior to those two down days. The down days had little more strength than the up days. Still, the intermediate term rating remains BULLISH.
On the short term Things are back to the positive. The Index is above its positive sloping moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The only cautionary indicator remains the volume indicator. For today the short term rating has once more upgraded to BULLISH.
As for the immediate direction of least resistance, I think I’ll go with the up side. The Stochastic Oscillator has turned upward but is still in its negative zone. The Index seems to be improving on the up side and looks like it wants to move higher. I’ll go with the Index.
Merv’s Daily Uranium Index
Market Data
Open: 146.03
High: 154.91
Low: 143.78
Close: 151.23
Volume: 6799
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
It was a relatively good day today but we still need a little more before we can say that the Index is on a break-away. The action remains inside its slightly up trending channel. The closing price just exceeded its previous recent high close from last week but is still a very small fraction below its previous recovery high from early January. An up day tomorrow should get us into new recovery highs. However, the momentum indicators are holding back and not in sync with the Index action. It’s a wait and see what is going to happen next.
The Merv’s Daily Uranium Index closed on the up side by 5.01 points or 3.43%. There were 36 winners, 7 losers and 7 going nowhere. That’s a good ratio of winners to losers. As for the five largest stocks, all were in good shape today. Cameco gained 2.7%, First Uranium gained 3.7%, Paladin gained 5.1%, Uranium One gained 8.9% and USEC gained 3.3%. The best gainer on the day was Tournigan with a gain of 26.5% while the loser on the day was Freewest with a loss of 7.8%.
Everything is back in sync on the intermediate term. The Index remains above its positive sloping moving average line. The momentum indicator has moved above its trigger line in the positive zone. The trigger has also turned to the up side. Although the volume indicator continues to move nicely above its positive trigger line there is some weakness shown. Two down days resulted in the indicator moving somewhat lower. Now we have two up days and although the indicators has moved back to the up side it has not exceeded its` level prior to those two down days. The down days had little more strength than the up days. Still, the intermediate term rating remains BULLISH.
On the short term Things are back to the positive. The Index is above its positive sloping moving average line and the momentum indicator remains in its positive zone above its positive trigger line. The only cautionary indicator remains the volume indicator. For today the short term rating has once more upgraded to BULLISH.
As for the immediate direction of least resistance, I think I’ll go with the up side. The Stochastic Oscillator has turned upward but is still in its negative zone. The Index seems to be improving on the up side and looks like it wants to move higher. I’ll go with the Index.
No comments:
Post a Comment