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.
That down trend line continues to halt any attempt to get a new bull started. Sooner or later it will be breached bur in the mean time just sit back and relax.
The Merv’s Daily Uranium Index closed lower by 1.91 points or 1.27%. There were 11 winners, 31 losers and 8 going nowhere. Cameco lost 2.1%, Extract lost 4.7%, Fronteer gained 8.2%, Paladin lost 3.3% and Uranium One gained 2.0%. The best winner was that 8.2% gain by Fronteer. The worst loser was Forum Uranium with a loss of 20.0%. Market Vectors Nuclear Energy ETF lost 0.9%.
The only change in the indicators today is the very short term moving average crossing below the short term line to confirm the short term bearish rating. Other than that all indicators are unchanged from the week-end. The Intermediate term and short term ratings remain BEARISH.
As for the immediate direction of least resistance, that is probably going to be another down day but it still seems that the previous low of a couple of weeks ago will hold.