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Gold/Mining/Energy : Uranium Stocks

URNM 55.58

+4.6%

Dec 19 4:00 PM EST

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To: cajsa who wrote (9100)	3/13/2007 6:39:49 AM
From: chowder	Read Replies (1) of 30229

Re: UPC.V ... I don't know if price will continue higher or not. That's not what I expect technical analysis to tell me. The time frame you wish to hold a position should determine the strategy you use when applying TA. I'll assume your position is to be an intermediate to long term position. If this is the case, then I look at the longer term chart to determine the trend and look for areas of price support or resistance. In looking at the weekly chart of UPC.V, I see a 20 week moving average above a rising 40 week moving average with a comfortable distance between the two. This is a bullish alignment and when you have a bullish alignment all pull backs to the rising 20 week moving average are buyable. The most recent pull back to 65 cents saw a successful test off that rising 20 week moving average. As price rises along with the moving averages, a close below the rising 20 week moving average would be a sell indicator and then wait for another buying opportunity. You ride the trend as long as the trend stays intact.

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