URRE CHART REQUEST

A long time favorite just waiting for its moment, URRE. This stock has gained nearly 150% in 3 weeks and it's looking like a consolidation is in order and deserved.

 Here's a massive bullish descending wedge, the general rule of thumb is that wedges retrac their base, giving URRE an eventual upside target near $4-$3.50

Here's an example with the Dollar index.

Note the 2009 bullish descending wedge and the rally from there that retraces almost all of the base. There's another bullish descending wedge in the Dollar Index now.

 This reminds me of how stocks "use" to trade before EUR correlations, the death of cyclical rotation and the advent of high speed High Frequency Trading and their algos. Maybe URRE is too small for them to bother? There's a nice breakout from the wedge, a pullback to wedge support and a move higher on good volume and a very typical /consolidation configuration the last 2 days. Remember this has been a 150% move in less then a month, it is healthy to consolidate. I suggested last week trying to take some profits and if at ll possibile, try to take your original investment off the table and let the profit run.

 Here's the crossover screen I showed you last week and as I predicted, the middle window has crossed over (which is a custom indicator) and it has a long signal. Usually after a breakout, the first pullback is to the 10-day moving average in yellow, but the longer URRE stays in place, the higher the 10-day will move up. Second pullbacks tend to be to the blue 22 day average.

 Heres the daily chart, 3C and the wedge are bullish and look at lot like the Dollar Index in 2009 and now.

 The 30 min chart shows the signs of consolidation, however consolidation can be through price decline or overbought conditions can be worked off through time in a pattern like a triangle which seems to be developing, although it my be a little small.

 For long term trades, this 4-day Trend Channel has held uptrends and down trends in URRE perfectly, the current stop would be around $.75 but that will move up fairly quickly each day.

For shorter term traders or those considering partial profit, the 60 min Trend Channel has held the recent strong move up and is at the $1.25 area -it too will continue to move up, but not as fast.

I still like the trade, but this is a long term trade, 6 months or more as far as I can tell.