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.
The Daily Index started okay but soon turned and closed on the down side. This was not a surprise but it was a disappointment. I was hoping for a break-out on the up side. However, that should come pretty soon. The action is still within the box but also still inside both of the up trending channels. I would start to worry if the Index broke below the major up trend line, the lower support line of the larger channel.
The Merv’s Daily Uranium Index closed lower by 0.83 points or 0.44%. There were 18 winners, 23 losers and 9 going nowhere. Cameco lost 0.9%, First Uranium lost 0.8%, Paladin lost 1.0%, Uranium One gained 0.3% and Uranium Participation lost 2.1%. The best performer on the day was Pele Mountain with a gain of 14.0% while the loser of the day was JNR Resources with loss of 17.2%. Market Vectors Nuclear Energy ETF gained 0.3%.
Nothing much has changed in the indicators with today’s action so both the intermediate and short term ratings remain BULLISH.
For the immediate direction of least resistance, I will remain with my lateral direction for another day.