UUUU has been trading within this long-term range for 2.5 years or so. The EMAs confirm a range bound environment. It may be printing a higher low/back up after s sign of strength, if this was to be considered a Wyckoff re accumulation range. Narrative around the uranium industry is slowly changing globallly and becoming more positive. People are also becoming more aware of the uranium supply/demand imbalance which is looming.
Would look for a weekly close above $8 to help us confirm this is a breakout, higher volume would also be a confluent factor.
Would look for a weekly close above $8 to help us confirm this is a breakout, higher volume would also be a confluent factor.