We still need more time and price confirmation in order to speak of a Uranium Price Turnaround. As of yet this is nothing I would bet the farm on, but I am willing to put on a position with the one stock I consider the best bet in the Uranium sector. That’s what I did with KIV.V – Kivalliq Energy. Going through my public list I decided to redraw the charts of KIV.V – Kivalliq Energy and BSK.V – Bluesky Uranium. Both show early signs of potential bullish wedges in the making. Another uranium stock showing first signs of strength is FRG – Fronteer Development Group.
That’s about it when it comes to the pros. The cons are DNN / DML.TO – Denison Mines which closed down and didn’t follow through today and FIS.V – Fission Energy one of the early leaders which is falling back again. Overall a lot more Uranium stocks will need to start moving up otherwise all the bullish signs I see right now might end up being nothing more than wishful thinking.
Here’s the two potentially bullish wedges in the making I see. Interestingly Ross Beaty has invested in both stocks.
Up-to-date KIV.V – Kivalliq Energy chart on my public list.
Up-to-date BSK.V – Blue Sky Uranium chart on my public list.
Confidence when losing, humility when winning: A formula for long-term success in markets. – Brett Steenbarger
My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469
Have a great evening!
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