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Hannabal

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586

12/05/23

19:12

Post #: 67750764
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Originally posted by dc1234: ↑

Sliding down - will be hold?
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Yes AGE lost 2 pips to finish at 3.9c. Our volume was moderate, similar to yesterday, just over 12m shares traded. A weak U sector day dragged down the price as well. Still good to stay above 3.8
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ASX U stocks lost a bit today after a good gain couple of days back. Of the 28 stocks that I track, average loss was around 2.5%
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Overnight US U stocks were also in small green. U Future price steady at $53.40.
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So after a a big jump couple of days back we had a flat day, and a slight down day. I had written earlier I am hoping its just not one day stand like previous times in last 1 year. If the bullish pattern is to continue then the stocks need to hold this level. So very crucial week coming up which may decide the medium term direction.

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What next:
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(Will keep it short as was away).

As I have been saying for some time, markets are not ready to move. A very big indecisive state. Even economic data and numbers are not able to move it. Yesterday SP 500 again played in same range.
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I think what I wrote yesterday around sectors stands for today as well, so just copying it -

But something has changed in last 1 week or so. Both sectors that I report - Uranium and Lithium are surging. Why is that? I think markets have been in an indecisive state for quite sometime. Most punters, including myself, were waiting for a stronger direction. But if the market to hold this level and withstand bad news including recession/bank failure has led to some confidence that markets may not tank a lot - even if its fall. Slowly the risk reward is improving from this level. Also sector outlook has improved considerable just in very recent time - price/sentiment/takeover/merger etc - this has also given a big boost. Last one year the general market had overpowered these sectors and crushed them. But now we are seeing signs for the first time that we may decouple slightly - not that market is bad but is not improving. Still sectors have decided to move on. Unless markets have a big drop which die-hard bears are calling - a 15/20% drop on SP 500 to 3250 level - I feel the sectors can withstand small turmoils. Also of late some risk-on sector buying has started. But still lot of industry stalwarts and hedge funds are still bearish - something to keep an eye on. Lets see whether this move can go a long way or fizzles out.
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So what will happen tonight? As long as our stocks are going up, lets not worry where the market is going. As long as it does not 15/20% as die-hard bears are calling, lets continue our journey. Probability is good but next week will be crucial. Will that happen. Lets hope so. Enjoy your weekend and all the best.

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I like your input but your following comment is simply incorrect, ie "Overnight US U stocks were also in small green.''

It was a poor day for US uranium stocks, including the bellwether stocks.

AGE Price at posting: 3.9¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 5.8¢		Change 0.004(7.41%)		Mkt cap ! $224.0M

Open	High	Low	Value	Volume
5.6¢	6.0¢	5.6¢	$628.3K	10.99M

Buyers (Bids)

No.	Vol.	Price($)
1	55497	5.8¢

Sellers (Offers)

Price($)	Vol.	No.
5.9¢	825665	9

View Market Depth

No.	Vol.	Price($)
1	55497	0.058
3	561052	0.057
15	730575	0.056
15	502521	0.055
17	618318	0.054

Price($)	Vol.	No.
0.059	825665	9
0.060	1356227	14
0.061	79992	6
0.062	647870	6
0.063	598071	10

Last trade - 16.10pm 29/04/2024 (20 minute delay)


Last 5.8¢		Change 0.004 ( 6.68 %)
Open	High	Low	Volume
5.6¢	5.9¢	5.6¢	7000050
Last updated 15.59pm 29/04/2024 ?

AGE (ASX) Chart

I like your input but your following comment is simply...

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