Is CXU playing the sector?.From a weekly perspective, slight...

Is CXU playing the sector?
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From a weekly perspective, slight gain from 3.7 to 4 this week, reversing the drop to 3.7 from 4 last week, thanks to strong Friday trading. .
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I still feel CXU is playing the sector where small to mid caps are struggling to make a decent gain in the hot U sector. Most gains have been with big stocks. It could change. But has not happened yet.
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This is what I wrote in this weeks report -
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• • • • Uranium Sector overview - Uranium stocks still doing all right, the bullish trend is on, a brief pause which started last week, continued into this week. U sector has a great run, so in that context this pause, or I would say hesitancy, is neither unusual, nor unhealthy. But I have a theory which I have been writing for several weeks now, when CCJ started coming back from 39. I said CCJ will make a new high between 55 and 60, before we see a correction. On Friday, CCJ reached 56.24, finished at 55.51. So great run, no signs of slowing down. But it is also now in my territory that a short term top may happen. So I will be cautious and look for signs. But as I always, its best not to assume anything but follow price action. So last 2 weeks was a test whether we will continue this rally. I don't think we got a decisive answer, so we will have to wait, possibly this week. Reason, ASX U stocks are already now in hesitant phase. They are not panicking, but exuberance is missing. Many big stocks which were making 52 week highs last several weeks, most are now down average 10% from their recent highs. Not big, but something to ponder. his is for those who do short-term trades, like me. Longs may still feel a hold and play is very good, and it well may be. So overall I would say, a caution phase, look for clues, especially around downside, because 15 to 20% drops can happen and with June tax transactions coming up, next rally could be September. U Spot price also dropped for the week. Last week at 91.95. This week 89.90. So not much, but has lost a psychological number of 90. So lets see.

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Personally, I wrote few weeks back, I had exited my positions from CXU. I have not yet bought back. I still believe CXU will shine big one day. But I follow price action, and I will wait for that. For many, who are long term, it may not be the best play. But I have been open, I like to trade and look from that perspective, so please ignore my approach if you don't like it.
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For those interested how stock is tracking against other Uranium stocks or who hold multiple Uranium stocks, I do a Weekly Report across 34 ASX U stocks for more than 3 years. It has got Weekly/Yearly data how stocks are tracking. Also figures for last year. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.

Here is the report for this week.
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https://hotcopper.com.au/threads/age-weekly-report.6580138/page-5#post-74008721
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