URRE Follow Up (long trade idea)

 This is a bullish descending wedge in URRE, you may question my drawing of the trend lines, but I'll show you why I drew them this way.

 On the daily 3C chart there are two false breakouts that fell outside of the trendlines, because they were false breakouts and had little to do with the trend is the reason I drew the trend lines as I did above. Both false breakouts are at the green arrows, one a downside break and one an upside break. Note the second red arrow, denoting a false breakout and the white arrow denoting accumulation on the second false breakdown. URRE's 3C profile on the daily chart is impressive and it looks like it is going to be one of the few stocks that outperform in a bearish market environment.

 Yesterday several subscribers asked if URRE was a good candidate to ride the bounce, my answer was no, this 15 min chart shows the reason I said no, I also feel URRE will perform inversely to the market, so it will fall and be accumulated on market bounces and rise on market declines.

It appears URRE is already under accumulation into the decline. I feel URRE will probably develop a stronger base before t heads higher. The pattern implied target for URRE is around $3.75 and is probably one of the few stocks I would consider to be a long trade during a bearish market environment.