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.

05 May 2011

Merv's Daily Commentary 05 May 2011

After The Close, 05 May 2011

Merv’s Daily Uranium Index
Market Data

Open: 186.80
High: 189.16
Low: 181.26
Close: 182.72
Volume: 4815

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

The Daily Index action remains inside that downward sloping wedge pattern and is on top of its lower support line. From the short term momentum indicator indications are that the support will not hold but I’d be inclined to give it one more day. Even should it break support I don’t really see the move breaking into new low intra day levels, i.e. below the plunge low. That’s hope, as for technicals, well they are not saying anything one way or the other except that the down side is still in command until a reversal can take hold.

The Merv’s Daily Uranium Index closed the day on the down side by 4.82 points or 2.57%. There were 6 winners, 40 losers and 4 bummers. Cameco lost 1.3%, Denison lost 5.0%, Extract lost 4.7%, Paladin gained 0.3% and Uranium One lost 4.7%. The best winner was Xemplar Energy with a gain of 5.6% while the worst loser was Wealth Minerals with a loss of 12.9%. Market Vectors Uranium + Nuclear Energy ETF lost 2.5% while Global X Uranium ETF lost 2.8%.

All indicators are negative and their moving averages or trigger lines are also negative. Therefore all three time period ratings remain BEARISH.

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