Very tentative start to 2025?.
AGE had a sedate start to 2025. A drop this week, from 15 last week to finish on 14 this week. Volume usual.
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So what is happening in U sector/stocks? A big test coming up. As I have been writing, I use CCJ as a barometer. It has worked well for last couple of years - providing U macro direction for stock price. I have been writing for several weeks now, that it needs to hold 50, close to 20% drop from its 62.
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AEE is playing in this level - mid teens (+/-) for a long time, a very long time. No strong direction. There have been moments, but moments that have not been held. Punters waiting. Maybe for U macro. Maybe some news for AEE - takeover, any positive news will do. Otherwise it just plays macro. It played moderately this week, almost played the macro all week. It wanted to get above 15, raced towards it, but couldn't succeed. Now its about holding 13. So nothing much of a play, for now.
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So what will signify a positive play? CCJ to hold 50. Full stop. If it falls below that, and starts playing below that, I feel CCJ will really have to test out to hold 45. Most U stocks could easily drop 15/20% from here, if that were to happen. That's my reading based on previous plays, but I could be wrong, so please dyor.
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So what may happen next week? Very uncertain. CCJ reached 49.55 on Wednesday, but held. The general markets are also iffy. If general markets hold 5/10% drop from its high around 61k, it may still be all right. Anything more, may drag a lot of stocks including Uranium down. Spot price is also weak. After reaching 70, it raced towards 75, but is now pushed back towards 72. Considering last January it was 106, its weak, whether we accept it has any relevance or not. Many X posters who are bullish, day in day out, 365 days a week, for last few years, have a theory. If it rises - U macro is great. If it falls, some manipulation, very thin volume, someone exiting etc. Never saying it might not be looking great in short term. Not ethical. But they need to suck in any U punter that is positive. It works. They have large following and make good money, whether U stocks make money or not. CCJ needs to get to 58, previous high levels, hold 50. Anything in between, may be all right, increases the chance of upside. Will that happen? Lets hope so. Enjoy your weekend and all the best.
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