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.
Nothing much has changed from the week-end. The market was up slightly today leaving all the indicators where they were but just a tinge more positive. The bounce or short term rally that I was looking for seems to have started. Let’s hope it isn’t just a one day wonder.
The Merv’s Daily Uranium Index closed the day up 1.37 points or 0.80%. There were 26 winners, 17 losers and 7 marking time. The five largest stocks were mixed. Cameco lost 1.0%, First Uranium gained 3.6%, Paladin gained 2.2%, Uranium One gained 8.1% and Uranium Participation lost 0.3%. The best daily winner was Mawson with a gain of 13.6% while the worst daily loser was Purepoint with a loss of 10.7%.
As mentioned above, nothing much has changed. The Daily Index closed above its positive sloping intermediate term moving average line. The momentum indicator remains in its positive zone but below its negative sloping trigger line. The volume indicator is slightly below its negative sloping trigger line. However, my proprietary magical calculator puts all that together and still gets a BULLISH rating.
On the short term the Index remains below its negative moving average line. The momentum indicator remains in its negative zone below its negative trigger line. The daily volume action is not really telling us anything special. The short term rating remains BEARISH.
The Stochastic Oscillator has not yet turned around but is in the process. It is basically in a horizontal direction from a negative one the other day. Another day and it should start climbing. I’ll go with the lateral direction again for one more day but hoping that the up side takes the lead.