You sound awfully positive, but you are ignoring the macro price drivers. Unless you see uranium going back to $30, there is no way in hell PDN is heading back to 48c, can't you see that? lol. Yes, it could in a broader market correction, but energy is defensive in times of inflation.
Sure, use your charts, but it helps if you at least have a good understanding of macro price drivers and fundamentals, otherwise you are pissing against the wind in this sector with your charts.
The longest term uranium price is $45 and that is where it is now, so why on earth do you think the market will rerate PDN down? If anything, the market is being conservative with PDN vs global peers at these levels. Cantor Fitzgerald has upgraded a heap of global uranium stocks, you are fighting an upwards trend in a secular bull market.
DYOR
50c party, page-526
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Last
$7.29 |
Change
-0.050(0.68%) |
Mkt cap ! $2.180B | |||
| Open | High | Low | Value | Volume |
| $7.45 | $7.47 | $7.14 | $32.63M | 4.489M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9130 | $7.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.30 | 7340 | 3 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| PDN (ASX) Chart |