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.
Another up day, that’s two days in a row, this can’t last much longer.
The Merv’s Daily Uranium Index closed higher by 0.47 points or 0.27%. There were 22 winners, 20 losers and 8 stocks confused. Cameco gained 0.7%, First Uranium lost 22.3%, Paladin gained 0.6%, Uranium One lost 0.9% and Uranium Participation lost 0.7%. The best daily performer was Uranerz Energy with a gain of 11.9% while the worst performer was First Uranium with that 22.3% loss. Market Vectors Nuclear Energy ETF gained o.2%.
Nothing has changed in the indicators so I’ll just go directly to the ratings, BEARISH for both the intermediate and short term.
For the immediate direction of least resistance, I’ve been right on the up side for two days now. The indicators continue to look good. Stochastic Oscillator heading higher and is just about to enter the positive zone. The very short term moving average line has turned to the up side with the Index above the line. I should go for the up side again but am a little cautious and will go for the lateral direction.