UUUU Energy Fuels, MGA Mega Uranium (MGAFF), DNN Denison Mines (DML)

 

Uranium is looking great again. 

We're buying UUUU, Energy Fuels Inc. which closed Friday at $1.91 and will place a stop at $1.25 

Here's the monthly chart for UUUU which shows a multi-year down trend in arithmetic scale was broken earlier this year around $1.65 then the low of last November at $1.29 held this year too with a low $1.295 a few weeks ago:

Last week the stock rallied to a 7-month high, surpassing the peak of its summer rally which corresponded to a level of obvious support and resistance since last September, and also broke above a multi-year down trend in logarithmic scale:

We entered a uranium-related trade, in Mega Uranium (MGA in Canada, also trading in the States under ticker MGAFF), this summer with poor results, as it was $0.20 CAD at the time and we placed a stop at $0.145 CAD which was hit in late October. 

Same with DNN (Denison Mines, also trading in Canada under ticker DML) which we bought at $0.51 but were stopped out in late October at $0.41 

A month later Mega is back above $0.20 CAD as it closed Friday at $0.21 CAD and we're re-entering it with no stop level for now.

Denison closed Friday at $0.55 and we're re-entering it with a stop level at $0.35 

We're expecting a general rally in anything uranium-related. 

Prudent persistence pays.


 

 

 

 



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