URRE Breaking Out

URRE as 1 of 2 longs in the Model portfolio is up between 15% and 18% today alone and the breakout level was around $1.00 when I last updated how to play the trade if you didn't want to but back then, in which case you'd be up 26% over the last 3 trading days.

 The idea was that 3 was showing us last week accumulation as prices broke below the $1.00 support level, this is why it was either a buy last week or a stock (a speculative one) to keep on your radar for a breakout move. This is the daily chart showing a breakout > $1.00

 Here's a 5 min chart showing a bump up in volume on the breakout, although I would like to see more and I definitely want to see it hold the $1.00+ level on a closing basis.

 3C 60 min shows accumulation since the break below support which is why it is in the WOWS Model portfolio (long).

 The 10 min chart looks like it's been preparing for this breakout the last week or so, around the time I updated the trade.

 A break and close above the Trend Channel at the white trendline will be very bullish and likely reverse the trend.

 As for stops, here's a 30 min Trend Channel which will continue to move up with price, but also widens as volatility increases to allow for pullbacks without stopping you out.

 The 15 min trend channel can be used as well, you get a tighter stop, but risk being stopped out on a correction/consolidation.

The 10 min is as tight as I would go and this would be for people who bought near the lows when I featured URRE being that you have profits of 25% or so in less then a week, this channel will continue moving up with price and locking in gains. If anyone is in the trade and needs updated Trend Channel stop levels, just email me.

Remember, we want to see a close >$1.00 today and hopefully volume picks up.