URRE is similar to UNG and perhaps MCP as it's a long term secular bullish stock in a huge base that looks like it could rise for years.
Over the last 3 days, until just a few moments ago it had been up 4.23% Monday, 13.65% yesterday and 5.5% today making for a 25% gain over the last 3-days with no leverage, I warned about this yesterday as we are at resistance, some are taking profits and URRE is likely to pullback. For me, I have no problem holding on to URRRE because I entered it as a long term position, nit a trading position.
Here are the charts, a pullback may create an opportunity for those who are interested in a new position or those who want to add to an existing one.
Long term 5-day chart/base, similar to UNG.
Daily chart with the last 3-days' gains and hitting resistance, it's not surprising some profit taking is occurring.
The daily chart in the bowl looks great, but this is a long term chart.
This is the 30 min chart, it was obviously ready to make a move.
The same is seen on the 15 min chart.
On the 5 min chart we are in line so there's no really serious distribution, just profit taking as far as I can tell.
It's pretty much contained to 1-3 minute intraday charts, that's not a concern big enough for me top trade around, I'm going to leave my position in place, but if we get a decent retracement some might want to consider a position here as a long term secular bullish play despite the market.
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