Friday, June 17, 2011

One To Watch

URRE is engaged in mining of Uranium ; their primary customers are utilities that use nuclear power.

 After the Japanese earthquake, URRE took a big hit.

 Since then, the daily 3C chart has been very strong. I don't think the world is just going to stop using nuclear power and this reaction to Japan might be creating an opportunity in URRE. This is a very strong daily chart.


 Today URRE broke support, we see this a lot (false breaks) before a reversal.

 The hourly chart is positive.

 The 15 min chart is positive

 And the 1 min chart on the break today is positive, suggesting the break of support may be under accumulation.

This is another stock that I would set an alert on, maybe price passing above $1.47-$1.48 might make for an interesting entry in URRE.

It's a low priced stock and thus speculative, but volume is pretty decent and its optionable.

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