MartyMcfly a very skilled Canadian Chart Technician, after reading what I had to say about Uranium One he decided to do a Technical Analysis for all you home investors out there.
Uranium One (TSE:UUU) Technical Analysis
Marty's comment: Uranium One (TSE:UUU) has been trading below its 50 day moving average since the correction we saw in the broad market on February 5th of this year. And at the beginning of March when the broad market was rallying, we saw Uranium One trade below its 200 day moving average. End of March showed an increase in buying with a welcomed bounce the week of March 22nd; however this has been on low volume which is a bearish sign. These reverse candles that we are seeing in the last couple of days could turn out to be nothing as the volume has been extremely light. However, I would definitely keep an eye out on this stock because there could be an entry point coming up if buying volume picks up significantly.
MartyMcfly is known for skilled trading in precious metals, specifically gold. You can view his blog here:
There you have it folks, you will have to keep a close eye on this stock.
Until the next one,
Mr. Stock Pick
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