Have we topped this week for current phase?
.
An average week overall, a small drop from 46.5 to 46, so not much, still playing in the same zone and back to level we were couple of weeks back. To me it smells of consolidation. A big rise has happened. Its good to let punters play out and get comfortable with the price.
.
Last week I wrote there is a good chance we may make a new 52 week high this week. Fortunately it played out that way.
.
So will this be top for this phase or w will go higher? Lot depends on overall U macro play. If CCJ motors on towards 60, we could see a new high. But if it takes a breather, there is a good chance we may as well. At this stage, I would think, its best not to assume anything and follow price action. We are on a bull run, so the odds are still better to go high. But if someone not feeling comfortable, well, small breather could be in play.
.
This is what I wrote in this weeks report -
- Uranium Sector overview - Uranium stocks still doing all right, the bullish trend is on, a brief pause happened this week, but Friday US U markets had a very good day. The bullish run is still there, with 5 ASX U stocks making a new 52 week high on Monday, but most gave away the gains after that. CCJ too was looking a bit tentative, but had a strong Friday and keeps the hope alive for another dash to the top over 55. I have been calling CCJ to reach between 55 to 60 in this rally, it reached 54.93 this week, so theoretically has met the number I was thinking about. Weekly perspective it remained flat, which is not a bad thing. ASX U stocks no change in pattern, big stocks doing well, mid stocks average and small stocks not good. I feel this week may be defining week for U stocks, if it can hold the level, good chance that we may have an extended rally well into June, otherwise it could top here and take a breather. General market direction may also help. But U stocks in a boom period, best not to assume anything and follow price action.
.
Personally in this phase I am holding from 38 as I write last week, no trades for me this week.
.
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
.
.
https://hotcopper.com.au/threads/age-weekly-report.6580138/page-5#post-73895376
.
.
- Forums
- ASX - By Stock
- LOT Chart
Have we topped this week for current phase?.An average week...
-
- There are more pages in this discussion • 301 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LOT (ASX) to my watchlist
(20min delay)
|
|||||
Last
27.5¢ |
Change
0.010(3.77%) |
Mkt cap ! $504.2M |
Open | High | Low | Value | Volume |
26.5¢ | 28.0¢ | 26.0¢ | $2.510M | 9.237M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 114310 | 27.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
28.0¢ | 469784 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 114310 | 0.275 |
4 | 458563 | 0.270 |
6 | 139204 | 0.265 |
18 | 352302 | 0.260 |
22 | 677699 | 0.255 |
Price($) | Vol. | No. |
---|---|---|
0.280 | 409784 | 9 |
0.285 | 607094 | 12 |
0.290 | 583000 | 8 |
0.295 | 185000 | 2 |
0.300 | 434848 | 14 |
Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
Featured News
LOT (ASX) Chart |
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online