AEE having a big test, like other ASX U stocks. Can it hold?. . Like other U stocks, AEE made a low in early September - 10.5. Then it reached 18.5. Now trying to hold this level around 15. What happened? Its 52 week high is 31. Its down around 50% from its high. . AEE playing weak. Not sure what can change its fortunes, besides overall ASX U macro play? Not sure. Tough times coming up. . This is what I have written about U sector in my Weekly Report this week on AGE thread. Anyone more interested in other sectors, general markets, etc, look at my other posts around the weekly report, as I write that on one thread only. . .
Uranium Sector overview- CCJ in very strong bull territory. No stopping it seems. I have been writing for last couple of months now, before CCJ crossed 56.24, that if it makes a new high above 56.24, it could go up to between 65 and 70. On Friday it reached 62.55. So its on target. Finished at 61.06, gained over 2.5% this week.
But unfortunately we can't say anything positive about ASX U stock - I mean U stocks which are primarily played in ASX. PDN/LOT flat, BOE lost 5%, DYL gained 1%. The divergence between ASX and US U stocks which started in August, has been growing and growing.
If this trend continues, punters who want to play U sector, have to play US U stocks
CCJ has gained 45% this year. Most ASX U stocks have lost around 30 to 40% this year. Cumulative effect is a loss close to 80%, if one had played US U stocks rather than ASX U stocks.
This doesn't mean it will remain like this. Some may think of this as an opportunity, thinking more gains can be made in ASX U stocks. Its possible, but its now going for months. Its individual interpretation and expectation now
AEE Price at posting:
16.0¢ 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)