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.
Ho Hum, another up day for the uranium stocks. That’s five days in a row. I count last Friday’s as an up day since it closed above its opening price. It’s getting closer and closer for a rest. Tomorrow? Who knows?
The Merv’s Daily Uranium Index closed higher by 5.12 points or 2.95%. There were 37 winners on the day, 9 losers and 4 confused. Cameco gained 3.0%, First Uranium gained 2.6%, Paladin gained 8.3%, Uranium One gained 5.5% and Uranium Participation gained 1.5%. The best daily winner was Bayswater with a gain of 17.4% while the loser on the day was Powertech with a loss of 5.7%.
Since both the short and long term ratings were already bullish today’s action only had the effect of making them more so. So, BULLISH for both periods.
As for the immediate direction of least resistance, that should be to the up side but the Stochastic Oscillator has now entered its overbought zone and may be ready for a rest or reaction. It could still stay in the overbought zone for days so nothing is eminent. However, I’ll go back to my old` standby of lateral as the direction of least resistance.