Congrats jumping on pdn I have been invested in this company...

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Ramsay35

289 Posts.

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28/06/24

08:52

Post #: 74516482
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Originally posted by Launched: ↑

PDN looking ripe to run with the underlying market showing some promising signs.

A couple of days ago URA had two top 20 trades hit the tape - both right on the VPOC (volume point of control) for the past 12mths and the 200dMA.

The VPOC is important as it's the most loaded price from an insto perspective. As price ran higher from this level last time its fair to assume instos were loading long positions last time and probability favours they are once more getting long from here.

It's made even more obvious by the clutter of heavy traders that are illustrated by the dotted lines around this level which are previous top 100 trades.

Source : Volume Leaders

Flipping over to the URA chart and you can see the significance of these levels and it's made even more promising 2.5% gain over the past two days.

Respected 200dMA and MACD looking poised for a bullish crossover.

URA daily

We can see a very similar set up on the PDN chart with price respecting the 200dMA and looking to bounce from a HVN (high volume node). RSI is heavily oversold and IMO is on the brink of turning that around.

PDN Daily

I also looking at net buying and selling and could see clear selling leading up to the recent drop. However the tables have turned considerably in the last three days with net buying dominating.
It must be noted that this (net buying) may be shorts closing positions, so the risk is there for this to be a false metric but it's one I'm willing to risk as I see both FA and TA lining up for uranium and PDN looks good to go.

Last day for tax selling so perhaps there's more bargains today but I took this risk and grabbed a position yesterday.

AIMHO
DYOR
GLTAH

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Congrats jumping on pdn I have been invested in this company since early days at 12 cents a share so have a few on this forum welcome and enjoy the gravy train

PDN Price at posting: $12.42 Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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