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.
Well, another day and another miniscule drop in the Daily Index. On the chart you wouldn’t even know it was a down day except for the candle color red. The Index is still hugging that third FAN trend line and also remains below that strong resistance at the 180 level. The basic lateral move has gone on for over 2 months now but we’ve seen longer lateral periods. Uranium price is doing us not great help. It was unchanged this week. What we might need is a good up tick in that uranium price to seen the stocks take off.
The Merv’s Daily Uranium Index closed lower by a whole 0.30 points or 0.18%. There were 20 winners, 22 losers and 8 going nowhere. Except for one going nowhere the rest of the largest stocks were losers on the day. Cameco lost 0.1%, First Uranium went nowhere, Paladin lost 1.5%, Uranium One lost 2.6% and Uranium Participation lost 0.7%. The best winner on the day was Alta Star with a gain of 12.0% while the loser on the day was Terra Ventures with a loss of 13.6%.
Sorry about the late posting. I had computer problems and didn’t get back on steam until this morning. Nothing in the short or intermediate term charts or indicators has changed from yesterday. Therefore both time period ratings remain BEARISH.
As for the direction of least resistance, I should have stuck with the lateral yesterday. Today, I have learned my lesson and go back to the lateral. The Stochastic Oscillator had halted its decline but is moving sideways rather than up or down. This suggests an Index action that may be undecided as this time.