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Gold/Mining/Energy : Uranium Stocks

URNM 58.40

+0.6%

Dec 9 4:00 PM EST

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To: Uranium2007 who wrote (11118)	5/14/2007 12:32:30 PM
From: chowder	Read Replies (2) of 30204

>>> Make no mistake about it....charts of the U's have no "bearish" look whatsoever at this juncture. >>> I respectfully beg to differ. The FRG chart is showing bearish implications in the near term. In the month of April, the down volume days were greater than the up volume days. This is a sign of distribution. An uptrend is a series of higher highs and higher lows. The first of May saw the first lower low. This changed the character of the trend in the near term. The rising 20 day moving average, which is must for an uptrend to continue, is no longer rising. FRG may rebound off the 50 day moving average, but the chart is clearly showing short term bearish implications.

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