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 minor down move by the Daily Index. Drip, drip, drip. Slowly but steadily the Index keeps moving towards the support from the Feb low. The move is slow as can be seen by the fact that the daily close has been more near the mid-point of the daily trading range rather than at the low for the day. That is sure better than closing at the daily low.
The Merv’s Daily Uranium Index closed lower by 0.81 points or 0.48%. There were 14 winners, 29 losers and 7 stocks that don’t seem to be interested in going either way. Cameco lost 1.1%, Extract lost 2.0%, Paladin lost 0.3%, Uranium One lost 3.6% and USEC gained 1.0%. The best winner of the day was Uracan Resources which gained 5.7% while the loser of the day was Xemplar Energy with a loss of 7.4%. Market Vectors Nuclear Energy ETF gained 0.3%.
To cut things short, nothing has changed in the indicators so both the intermediate and short term ratings remain BEARISH.
As for the immediate direction of least resistance, I’ll stay with the lateral direction for another day.