reganbahaYou don't have the graph, but here it is. It was the...

reganbaha

You don't have the graph, but here it is. It was the last in a list of a number of "uranium' stocks getting the technical treatment

Arafura Resources (ARU)

ARU listed in 2003 and started to ease lower. By the middle of 2004 it had made lows of 11c and this became the retested lows of a long-term basing pattern. The price of ARU started to climb steadily, punctuated by two major corrections: June 2006 at 27c and March 2007 at 51.5c. Once ARU was past the $1 mark it made quick progress to all-time highs of $2.28. That high in early 2007 was followed by a volatile path lower. Since the lows of December last year at 71c, ARU has been building a base. The confirmation of that pattern will occur at a close above $1.11. However a narrow-range basing pattern within that pattern was confirmed when the price closed above 98.5c this week. A close below 67c and the correction resumes.



Conclusion

Of all the stocks on this list, the safest stock to get bullish about is ARU. The line of support at 67c to 71c is giving us a clear place to change our minds, that isn't far from the current price, if ARU should turn down. The fact that the $1 was tested again gets an important negative event out of the way. ARU now has the best prospects to make that long-term sustainable rise that has the potential to test the old highs and go beyond. Another stock that should be on this list is Paladin Energy (PDN) but this was already covered as a daily story by me on May 7.