Is CXU playing the sector?
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From a weekly perspective, slight drop from 4 to 3.7 this week. At this stage, the best efforts are trying to see that we hold the level, rather than breaking out towards 5.
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I wrote this last week - "So why is CXU not able to make same gains as some other U stocks? If you read my reports around big/medium/small stocks that I wrote last week and have again mentioned this week, that may be in play. Though I am no expert in the fields, there are much bigger players who may have a different opinion.". This week play is reinforcing what I have been saying around patterns of play for big/medium/small stocks. It could change. But for now it cannot be ignored.
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This is what I wrote in this weeks report -
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- Uranium Sector overview - Uranium stocks still doing all right, the bullish trend is on, a brief pause happened this week, but Friday US U markets had a very good day. The bullish run is still there, with 5 ASX U stocks making a new 52 week high on Monday, but most gave away the gains after that. CCJ too was looking a bit tentative, but had a strong Friday and keeps the hope alive for another dash to the top over 55. I have been calling CCJ to reach between 55 to 60 in this rally, it reached 54.93 this week, so theoretically has met the number I was thinking about. Weekly perspective it remained flat, which is not a bad thing. ASX U stocks no change in pattern, big stocks doing well, mid stocks average and small stocks not good. I feel this week may be defining week for U stocks, if it can hold the level, good chance that we may have an extended rally well into June, otherwise it could top here and take a breather. General market direction may also help. But U stocks in a boom period, best not to assume anything and follow price action.
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Personally, I wrote couple of weeks back, I had exited my positions from CXU. I have not yet bought back. I still believe CXU will shine big one day. But I follow price action, and I will wait for that. For many, who are long term, it may not be the best play. But I have been open, I like to trade and look from that perspective, so please ignore my approach if you don't like it.
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For those interested how stock is tracking against other Uranium stocks or who hold multiple Uranium stocks, I do a Weekly Report across 34 ASX U stocks for more than 3 years. It has got Weekly/Yearly data how stocks are tracking. Also figures for last year. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.
Here is the report for this week.
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https://hotcopper.com.au/threads/age-weekly-report.6580138/page-5#post-73895376
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Last
2.5¢ |
Change
-0.002(7.41%) |
Mkt cap ! $30.66M |
Open | High | Low | Value | Volume |
2.7¢ | 2.7¢ | 2.5¢ | $34.39K | 1.321M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 497999 | 2.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.6¢ | 270826 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 777 | 0.026 |
4 | 459999 | 0.025 |
5 | 1701541 | 0.024 |
6 | 764989 | 0.023 |
4 | 263750 | 0.022 |
Price($) | Vol. | No. |
---|---|---|
0.025 | 776 | 1 |
0.026 | 312784 | 2 |
0.027 | 1207719 | 5 |
0.028 | 572906 | 2 |
0.029 | 475000 | 2 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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CXU (ASX) Chart |