Since the initial break of 10c and subsequent consolidation n a relatively tight range, I have been waiting for an 11c or higher finish, such as today's.
The puching therough the top of the billinger is particulary important, suggesting a decent move is immenent.
Regardless of what happens tomorrow, a run through the teens should develop now, with 15c first resistance and potentiall 18c on this leg prior to yet anothet period of consolidation.
Given the current exploration activities on their uranium ground, it is not hard to guess what may driive the run.
A few have shown concern over the options issue...and whilst clearly dilutionary, it is not in my mind something we should be overly concerned with.
In fact, I view such a move as a clear signal from the company that they expect a rather rapid and significant rise in the share price...evidenced by the relatively quick nature of the options "arrangement".
My guess...there is a lot more to this new uranium anomaly than we may well be aware of.
I have been in for a while...but will buy more on this break...as I am sure many other technical traders will.
Cheers!
MLS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
