2021/12/16 07:38 AM – URANIUM – URA – DOUBLE BOTTOM IN PROGRESS !

URA- D1 – DOUBLE BOTTOM IN PROGRESS ! by Ironman8848 on TradingView.com

EDIUM / LONG TERM BUYING OPPORTUNITY WITH A STRONG STORY BEHIND !!!

BUY AT CURRENT LEVEL AND ADD ON DIPS.

MEDIUM/LONG TERM TARGET : $ 37. 05 – $ 55.68 – $ 70.73

DAILY (D1) :

Yesterday’s price action triggered a potential double bottom formation in progress coupled with a RSI bullish divergence .

In addition, the daily closing price (@24.30) is above the Tenkan-Sen (@ 24.14)

An upside breakout of $25.85 ( double bottom trigger level) & 38.2% Fib retracement, would activate this ongoing formation ( DB ) in opening the door for a technical target of $ 29.27, which is also, by the way, roughly the top level of the daily clouds resistance area .

WEEKLY (W1) :

Recent price action from the top ($31.60) is an healthy consolidation move in a broad bull trend still in place.
Indeed, the primary uptrend support line is still intact and is also coinciding with the weekly clouds support area .

In addition, the 61.8% Fibonacci retracement @ 22.72 has been filled (with an intraweek low @ 22.43.


A weekly closing above KS and Mid Bollinger Band , respectively @ 24.42 and 24.52 would add further support for further upside towards, firstly the TS , currently ƒ 27.02 ahead of 29.27 technical double bottom target above mentioned.


Interesting to note that the 29.27 level coincides also with the middle of the long black candle which triggered this consolidation move.


A weekly closing above 29.27 would be seen as a very positive signal, calling for a retest of former high @ 31.60 ahead of higher levels.

MONTHLY ( M1 ) :

Uptrend intact, above the monthly clouds, above the Kijun-Sen and the Mid Bollinger band .

Watch the Lagging line which after having broken the clouds is again inside the clouds.

A new upside breakout of the clouds would also add further support for higher levels.

As you can see on this monthly chart, there is plenty of space to the upside and my strategic technical target
are the following :

Target 1 : 31.60


Target 2 : 37.05


Target 3 : 55.68


Target 4 : 70.73

For your information, there is also another vehicle investment in this URANIUM theme and on my view it is the best one :

Strategy Certificate sur U3O8 RENAISSANCE Portfolio
Sous-jacent: U3O8 RENAISSANCE Portfolio
Catégorie de produit ASPS/EUSIPA Tracker Certificates (1300)
ISIN: CH0441692628 /Valor: 44169262

Last price (December 15th 2021)
$ 1879.31 – $ 1898.29

Ironman8848 & Jean-Pierre Burki

Disclaimer / Avertissement :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

Toutes les opinions exprimées dans mes analyses sont les miennes et ne représentent pas les opinions d’une entité, quelle qu’elle soit, avec laquelle j’ai été, je suis ou je serai affilié. Toute action que vous entreprenez sur la base des informations contenues dans ces analyses est strictement à vos propres risques et ne doit pas être considérée comme un conseil. L’auteur n’assume aucune responsabilité pour toute erreur ou omission dans le contenu de ses analyses. Les informations contenues sont fournies “en l’état”, sans garantie d’exhaustivité, d’exactitude, d’utilité ou d’opportunité et sans aucune garantie de quelque nature que ce soit, expresse ou implicite.