Merv’s Daily Uranium Index
Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.
Was that all there was to the rally? I was hoping for a lot more. That 180 resistance level must be a real barrier so when breached that should be a good sign, don’t you think? In the mean time today’s action was no great shakes. The Daily Index closed just about where it opened with the activity above and below just about equal. One would almost say it was a toss-up type of day until we get into the winners and losers. That was no toss-up. The confirmation of the FAN reversal is still valid so no problem yet. I see that uranium has moved up $1.50 this week. Maybe that will help the stocks a little.
The Merv’s Daily Uranium Index closed lower by 0.49 points or 0.28%, almost zero. There were 14 winners and 31 losers, far from zero. Five stocks stayed put for the day. Of the five largest stocks it was a mixed day. Cameco lost 1.0%, First Uranium gained 1.3%, Paladin lost 2.6%, Uranium One lost 1.7% and USEC continues to play catch-up and gained 7.0%. The best performer on the day was Powertech Uranium with a gain of 23.7% while the loser of the day was Titan Uranium with a loss of 8.8%.
With the minor change in the Index nothing has changed from yesterday’s analysis so we remain as we were. Both the short and intermediate term remain BULLISH.
The Stochastic Oscillator continues to move higher so I will go with the up side as the direction of least resistance for another day.