No one will see it coming...but all the pieces are now in place for uranium to stage a big comeback - and soon.
Don't believe me?
I know. Like I said, it's a tough sell.
But before you disregard what I'm saying, know that Australia's two biggest uranium stocks: Paladin (ASX: PDN) and Energy Resources of Australia (ASX: ERA) have both quietly crept up by more than 40% over the last three months.
For context, the metals and mining index (XMM) has gone nowhere in the same period.
Mining stocks have a habit of predicting the coming move for its underlying commodity. So when uranium stocks start picking up, it can be a good signal that uranium is getting ready to move.
But if you look at the uranium chart, that's about the last thing you would expect to happen. The price has fallen for two and half years, with no bottom in sight just yet. It has broken under $40 to hit $38.25 this week.
PDN Price at posting:
$1.04 Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)