DC - I recon this is a confirmation of trend change - what do...

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24/09/24

16:08

Post #: 75815905
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Originally posted by dc1234: ↑

An important week coming for the stock. And maybe for the sector - all U stocks.
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Last week I had asked - "The big question is, have most U stocks made their bottom possibly this week/last week and now we are back. CCJ a stock to watch for pulse". This week it seems we may have bottomed, odds have increased considerably. Whether that's enough to get us to new highs shortly - there is no confirmation yet.
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I am very optimistic at this stage, last week I wrote I was optimistic. I liked how CCJ came back second time from 35. I liked how it churned at 39/40. And I was expecting a move in its 3rd week which started on Friday towards 45, coincidentally with help of Microsoft news it made an attempt, reached 44.95. But no cigar yet. I have a feel, if we are in positive state, a few ups and downs around 44/46, before move to early 50s. That's the positive play, I am playing towards that, but anything can happen, so please dyor
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This is what I have written about U sector in my Weekly Report this week. Anyone more interested in other sectors, general markets, etc, look at my other posts around the weekly report.
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Uranium Sector overview- I have been writing for couple of months, May end top, July end bottom, September end top. I have been writing that 39/40 is most critical level, where I expect to see biggest churn. Last week I wrote that a lot of churn may happen at 39/40 and then we may make attempt to get 45 in 3 weeks from the low of 35. The 3rd week started on Friday. We have made our first attempt at 45. It reached 44.95, algos didn't want it to go past 45. Finished at 44.40. Made a weekly 9% gain. Coincidentally last week also CCJ gained 9%. So back to back big wins. We have made 2 lows at 35. Now 2 attempts at 45. SP 500 also made couple of retraces and this week smashed past its all time high. Odds favour that we may also be able to get over 45. Next level is very good - early 50s, but may not go in a straight line. Spot price at 79.50, still below psychological 80. Odds of 35 being the bottom has considerably increased, twice it has been rejected from punters who have bought well that level. So my theory of End of Sep/Oct beginning for reaching towards high, theoretically is still there, but there could be some delays, lets see. Next week if it can hold 39/40 and more importantly, cross 45, that will be very positive. Last week I wrote I am cautiously optimistic, this week I am more optimistic and have bought more into the sector for a short-term play. I am still playing fully towards a theory that new highs are coming soon in the sector. I could be wrong, so please dyor. Lets see what happens next week.

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DC - I recon this is a confirmation of trend change - what do you think
LOT Price at posting: 28.5¢ Sentiment: Buy Disclosure: Held
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Last 27.0¢		Change -0.015(5.26%)		Mkt cap ! $504.2M

Open	High	Low	Value	Volume
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