A Second Look At DNN: The Bullish Case (with short contingency)Hello, traders! A busy chart,but hopefully not too confusing. Yesterday, i posted a more or less bearish case against DNN. After taking a second look, i see bullish rsi and stoch. I see a fine example of an elliot wave 8 pattern with the final corrective wave c ending at the 1.618 of wave a. Also, you'll notice the fib retracement and extension together look like an excellent area for confluence and support. After a few days of consolidation, DNN could move upwards and make for nice cup and handle. Then again, only time will tell! do your homework!! Best, Matt
Uranium
Long Uranium Miners This investment idea is not written for the ethical investors among us. ;)
Nevertheless, I would like to show you the possible reversal in the uranium miners trend.
The monthly chart clearly observe bullish divergence (incl. Falling wedge). In addition, an inverted hammer is formed this month. If the bottom is set, then I see a lot of upside potential for the URA to perhaps $39 (+200%) in the following months. Stoploss can be set @ $10 (-20%).
Beware of the high volatility of the ETF. It will be a bumpy ride, for sure.
Uranium - Stay short, to watch long term.Still no sign of a bottom and short to mid term market suggests nothing to change this. When market fundamentals change, will be a nice long term hold. NYMEX:UX1!
Prospective uranium play.Still on watch and waiting for the bottom. Tracks uranium spot price, so will follow that. At this stage no sign of market turning so suspect further falls to be seen here. To be followed in the light of the overall uranium market.
brazil gold and uranium long term playprobably pull back to cloud then take off
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