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.
I told you so, but it’s below my standards to say so. Well, we finally had an up day and a really decent one at that. One day does not change much as far as the various indicators are concerned (except the aggressive ones) but we have to start somewhere.
The Merv’s Daily Uranium Index closed the day up 5.19 points or 3.09%. There were 31 winners, 13 losers and 6 confused. Cameco gained 2.7%, First Uranium lost 2.1% Paladin gained 4.4%, Uranium One gained 2.7% and Uranium Participation gained 0.8%. The best winner of the day was RPT Uranium with a gain of 17.5% while the worst performer was Purepoint Uranium with a loss of 10.7%. Market Vectors Nuclear ETF gained 2.2%.
Nothing has yet changed in the intermediate term so I’ll go right to the rating, BEARISH.
The only change in the short term indicators was the momentum indicator. It crossed above its oversold line and its trigger line with the trigger turning upward. However, the momentum remains in its negative zone and the rating has not yet changed, it remains BEARISH but is getting close to improving.
The direction of least resistance remains to the up side.