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.
A very small decline, more along the line of a lateral move. The full trading range today was trapped within the trading range of yesterday. That is the best definition of a perfect lateral move, or at least today it is. We remain in the box so the wide lateral several month move continues.
The Merv’s Daily Uranium Index closed with a small loss of 0.82 points or 0.50%. There were 13 winners, 25 losers and 12 stragglers. Cameco lost 0.5%, First Uranium was one of the stragglers with a zero move, Paladin lost 1.2%, Uranium One lost 0.6% and Uranium Participation was another straggler. The best winner of the day was Ucore Uranium with a gain of 6.5% while the loser of the day was Benton Resources with a loss of 8.3%. Market Vectors Nuclear Energy ETF gained 0.5%.
Once again nothing is happening with the indicators so I’ll save time and go directly to the short and intermediate term ratings, both being BEARISH.
As for the immediate direction of least resistance, that would continue to be in a lateral direction.