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.
A relatively good day for the uranium stocks with the Daily Index reaching new intra-day and daily closing highs. Unfortunately, the momentum indicator is still hanging back and not making new highs. It is up there at just about the 70% level (short term) so the internal Index strength is still pretty good but diminishing.
Since it’s an up day the indicators continue to be positive and therefore unchanged in ratings from the previous days. The ratings for all three time periods remain BULLISH. Uranium stocks should be zooming to new highs with uranium itself showing great upside moves over the past several weeks.
The Merv’s Daily Uranium Index closed on the up side by 4.26 points or 1.65%. There were 27 winners, 19 losers and 4 stocks who haven’t read the script. Cameco gained 1.8%, Denison gained 6.0%, Extract gained 0.7%, Paladin gained 1.3% and Uranium One gained 3.8%. Market Vectors Nuclear Energy ETF gained 1.7% and Global X Uranium ETF gained 3.1%.