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.
A good day was had by (almost) all. It looks like we are on a roll, now let’s see how far it goes. The Daily Index still has a long way to go to get back into new recovery highs.
The Merv’s Daily Uranium Index closed higher by 4.40 points or 2.52%. There were 28 daily winners, 16 losers and 6 wannabees (winners or losers, I’m not sure which). We had one loser in the top 5 stocks. Cameco gained 1.1%, First Uranium lost 3.4%, Paladin gained 7.7%, Uranium One gained 5.6% and Uranium Participation gained 1.2%. The best winner of the day were two of them with the same gain, RPT Uranium and Uranium Energy, each with 12.9% gains. The loser of the day was NWT Uranium with a loss of 8.8%. Market Vectors Nuclear Energy ETF gained 0.9%.
Everything is in sync on the up side for the intermediate and short terms. The Daily Index is above both moving averages and both are sloping upwards. Both momentum indicators are in their positive zone above their positive trigger lines. The intermediate term volume indicator remains positive above its positive sloping trigger line. The daily volume action improved and is above its 15 day average line. All in all, both time periods have BULLISH ratings.
As for the direction of least resistance, the Stochastic Oscillator has turned upwards as expected during the week-end commentary. It is above neutral and its trigger lines but the trigger is still negative. Maybe tomorrow will turn the trigger around. The least resistance direction appears to be the up side.