A chart setup using weekly data and a log scale shows SLX price movements to have been contained within a well-defined trend channel over the last six years. The upward inclination of that channel corresponds to an annual average compounding growth rate of +85%.
An internal trendline has functioned as support or resistance to price movements on several occasions, including in recent weeks. The share price currently is positioned in the lower half of the trend channel, well below the upper limit that in the past has described significant tops.
Medium-term momentum indicators are returning to neutral from overbought positions, ascribable to corresponding movements in uranium market prices over the last 2-3 months.
In the absence of unexpected difficulties arising with Silex technology development, projected heightened future demand for enriched uranium can be expected to continue to drive the SLX share price at a rate comparable with the growth evidenced over the last few years.
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