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.
Despite what looks like an up trading day the Daily Index closed lower by barely a tenth of a %. It still looks like a short term topping process is on going. If it could break above that upper channel resistance line that would be encouraging.
The Merv’s Daily Index closed lower by 0.24 points or 0.14%. There were 16 winners, 29 losers and 5 stocks sleeping. Cameco gained 0.3%, First Uranium lost 1.6%, Paladin lost 2.2%, Uranium One lost 0.3% and uranium Participation gained 1.8%. The best of the winners was Strathmore Minerals with a gain of 15.9% while the worst of the losers was Purepoint Uranium with a loss of 10.3%. Market Vectors Nuclear Energy ETF lost 0.1%.
Nothing in the indicators has changed since the week-end as far as the indicators and ratings are concerned. The intermediate term remains BEARISH while the short term remains BULLISH.
As for the immediate direction of least resistance, that will continue to be to the lateral for at least another day.