Merv’s Daily Uranium Index
Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.
Well, everything was bullish yesterday and nothing has changed today, especially since it was another up day for uranium stocks. We’re now above the short term box, but only very, very slightly. Still the closing price of the Daily Index was above the high of the box activity. Seems like the Index is once more going in the right direction, but how long will it last?
The Merv’s Daily Uranium Index closed higher by 3.23 points or 1.81%. There were 21 winners, 19 losers and 10 undecided. I don’t know if it is just me but I don’t particularly like the sight of 20% of the stocks in the “going nowhere” category. As for the top five stocks, they all were winners today (excerpt for one undecided). Cameco gained 4.0%, First Uranium gained 8.1%, Paladin was a no show undecided, Uranium One gained 4.8% and Uranium Participation gained 0.6%. The best winner today was Alberta Star with a gain of 14.3% while the worst loser today Blue Sky Uranium with a loss of 11.4%. Market Vectors Nuclear Energy ETF was ahead 1.9%.
As mentioned earlier nothing has changed today so I’ll just cut the conversation and say that for both the short and intermediate term the rating is BULLISH.
As for the direction of least resistance, I guess that would still be the up side although the Stochastic Oscillator is getting close to its overbought level and some rest might be in order in the next few days.