I'm not saying it will to $3.10, I'm simply pointing out the price levels to watch. URA back-tested the trend line and 50 day MA with as decent reversal candle on volume.
Cameco and UEC reacted is a very similar way. Still plenty of downside room on weekly and monthly RSI. The weekly MACD on all the Uranium assets exhibit the same.
The question that should be asked, is "what is the probability of momentum, which was elevated at the intermediate top, being taken out as opposed to it reverting?".
The worst perspective an investor can take in the market, is the bear case won't materialize. Knowing where it might go ahead of time, is useful psychologically.
Obviously it depends on your underpinning thesis and how that keeps you in the market. My perspective is trade this asset vs hold long term. Others will have their own POV.
I'm not saying it will to $3.10, I'm simply pointing out the...
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Last
$5.66 |
Change
-0.030(0.53%) |
Mkt cap ! $2.312B | |||
| Open | High | Low | Value | Volume |
| $5.67 | $5.68 | $5.58 | $10.79M | 1.915M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3000 | $5.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.67 | 22202 | 9 |
View Market Depth
| Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
$5.65 |
Change
-0.030 ( 0.36 %) |
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| Open | High | Low | Volume | ||
| $5.66 | $5.68 | $5.59 | 368591 | ||
| Last updated 15.59pm 14/05/2024 ? | |||||
| BOE (ASX) Chart |