tommaso - Well...if you want to look at a chart, here is the weekly:
stockcharts.com[w,a]waclyyay[pc50!c100][vc60][iUb14!La12,26,9]&pref=G
As you can see, the stock found support at the 100 EMA. This is a good thing. You can see that the last time we were down here, the stock tested underneath the 100, that probably shook a few techies out. Then the stock bounced hard from there to taunt them. Looks like it COULD do that here. We want to see the stock get above the 1.60 level and stay there, that's the 50 week EMA. May take some work. Meanwhile, RSI seems to be coming off the bottom (the top chart) and MACD (the bottom chart)is getting closer to a crossover. If the thicker black line crosses up over the thinner blue line, we will be happy.
Meanwhile, I think the fundamentals for the sector are still much intact. Also, the announcement from the company today demonstrates that the company is moving some of their properties towards production. Some have claimed that STM is just gathering properties and will not develop them but will look to get taken out at higher uranium prices. The news today seems to be challenging that school of thought. All in all, I think this is a relatively low-risk entry. Nice job! |
