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.
Nothing has changed in the indicators from yesterday so I’ll just save time again and post the technical data.
The Merv’s Daily Uranium Index closed lower by 0.65 points or 0.25%. There were 12 winners, 31 losers and 7 stocks fooling around. Cameco lost 1.1%, Denison lost 1.4%, Extract gained 6.5%, Paladin lost 0.8% and Uranium One lost 2.0%. The best winner of the day was Terra Ventures with a gain of 7.4% while the loser of the day was Formation Metals with a loss of 6.9%. Market Vectors Uranium + Nuclear Energy ETF lost 0.2% while the Global X Uranium ETF gained 0.3%.
As mentioned above, nothing has changed in the indicators therefore the intermediate term remains BULLISH while the short term remains BEARISH. Looking at the Stochastic Oscillator, although we keep getting down days (very little down) the SO has been continually moving higher and has today entered its positive zone. However, the move does not look very strong, at this time, so I would be a little cautious interpreting anything from this. As for the immediate direction of least resistance I’ll go with the lateral today.