UROY an energy penny stock LONGUROY basically sells rights to mine uranium for a percentage of the production. It is a penny
stock in the nuclear subsector of energy which is undergoing a renaissance in this era of
fossil fuel addiction detoxification in the context of climate change remediation agendas.
The 240 minute chart shows a parabolic move in mid January followed by consolidation
and capitulation into a double top all at about the first anchored VWAP line above the mean
followed by a trend down into the present level near to the first lower VWAP line.
I will take a long trade here targeting the mean VWAP confluent with a standard Fibonacci
retractment which is the green line on the chart. $.05 is taken as a safe stop loss at the lows.
The target is 0.40 upside yielding a R:r of 8. I have positions in URA and UEC at this time.
The entire uranium subsector is cycling from warm to hot again.
