Uranium Companies

There are very few pure uranium companies. Most companies, especially the small exploration type, are active in more than the uranium industry. This blog makes no attempt to guage the percentage of a companies activity that are related to the finding, mining or processing of uraniun. They all do, however, have some uranium activities (to the best of our review).

Merv's Uranium Indices

I have developed two Uranium Indices. They each have the same component stocks but are calculated using different methodologies. My weekly Index is based upon the average weekly performance of the component stocks. My daily Index is based upon the daily average of the component stocks open, high, low and close prices along with the daily average volume of all component stocks.

Click on the chart or table to enlage the view.

17 March 2010

Merv's Daily Commentary 17 Mar 2010

After The Close, 17 Mar 2010

Merv’s Daily Uranium Index
Market Data

Open: 175.54
High: 178.51
Low: 173.30
Close: 176.10
Volume: 5170

Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.

Starting to look good. The Daily Index has breached that short term box resistance and now for the more significant hurdle, the resistance at 177. Today’s action just breached the resistance but did not close above it. Maybe another day or two will do it. Of course, what we are looking for is a new recovery high. That requires a move to just about the 200 level.

The Merv’s Daily Uranium Index closed up by 1.63 points or 0.94%. There were 24 winners, 16 losers and 10 going nowhere. I just don’t like it when we have this many undecided, that does not make for a strong move. Anyway, Cameco gained 1.7%, First Uranium was an undecided, Paladin gained 4.5%, Uranium One lost 1.8% and Uranium Participation gained 1.8%. The best daily winner was Alberta Star with a gain of 6.6% while the worst loser was Forum Uranium with a loss of 6.9%. Market Vectors Nuclear Energy ETF gained 1.4%.

Things are looking like changes coming in on the intermediate term. The Daily Index closed above its moving average line but the line has not quite turned upwards. It is turning but today ended exactly on a horizontal level. The momentum indicator is now in its positive zone and above its positive trigger line. The volume indicator is starting to get into an upswing but is still in more of a lateral trend. The indicator has closed above its trigger line and the trigger has turned upward. The intermediate term is now BULLISH. Unfortunately, the short term moving average line is still just slightly below the intermediate term line and has not confirmed this bull yet.

On the short term the Index closed way above its positive moving average line and the momentum indicator is inside its positive zone above its positive trigger line. The daily volume activity is still somewhat lacking but has not affected the rating. The short term rating remains BULLISH. Here, the very short term moving average line is above the short term line, confirming the bull.

As for the immediate direction of least resistance that would be to the up side again.

1 comment:

Anonymous said...

Merv, With the heavy volume on some uranium stocks such as UUU is it possible this was a capitulation day and a possible reversal? Could you comment on this?