Paladin Energy Breakout
Paladin Energy Ltd - OTC:PALAF - $0.65c ps
- Break out and re- test of parallel channel looks like
a repeat of a prior move (Red Circles).
The beauty of all of the four Uranium stocks ive covered is that the ETF has broken out into an upward trend and now some large and smaller Uranium miners are also breaking out with similar patterns of pennant breakouts and ascending triangle breakouts. We do have overbought RSI so its critical to have tight stop losses set under the base of all moves.
Interestingly Light Crude Oil looks to be bouncing at the moment too, as is Gold and Silver.
Commodities really are starting to glow and no wonder with currency risk on everyone's minds.
PUKA
Paladin
Paladin to drop to support before continuing higher? $PDN $PALAFPaladin looks likely to fall back down to the support line at around $30 to $31 before continuing higher. Uranium stocks in general have moved up too far too fast and don't reflect the underlying price of the metal. We are way too early on this opportunity but that is a good thing because it will present more buying opportunities in my view. RSI and MACD indicate overbought. Please give your thoughts and criticisms. I may be completely wrong on this. The Uranium sector is extremely volatile so anything could happen in either direction or extreme.