2021-10-12 08:06 AM – URANIUM (URA) GREAT UPSIDE POTENTIAL – STRATEGIC BUYING OPPORTUNITY

URANIUM – GREAT UPSIDE POTENTIAL – BUY by Ironman8848 on TradingView.com

Uranium is probably one of the best strategic investment in the current environment !!!

Upside potential is great and it is only the beginning of the story.


We are going to look at 3 time frames, starting from the MONTHLY, then WEEKLY and finally the DAILY picture :


I MONTHLY :


As you can see on this long term chart, the ATH seen on URA ETF ) has been @ $ 134.51, reached in February 2011; since then the prices went sharply down towards a low of $ 6.95, reached… in March 2020 !!!!
From its historical low, URA already recovered nicely, reaching a high, last month in September @ $ 28.72.


PRICE ACTION ANALYSIS :


1. The monthly clouds resistance area has been broken !
2. Pullback from $ 28.72 towards $ 17.23 should be seen as a corrective move (TACTICAL) only and not as a STRATEGIC REVERSAL
3. Tenkan San (conversion line) worked very well in holding and rejecting downside breakout attempt
4. Lagging line is in progress to attempt to upside breakout the monthly clouds resistance; once it will be done, that will be a STONG BUY SIGNAL.


TARGETS :


1. $ 37. 05
2. $ 55.68
3. $ 70.73
4. $ 85.78

II WEEKLY :


Kijun-Sen (Base line), around $ 23.00, hold and rejected 3 consecutive breakdown attempt !
Therefore, this area should be seen as a very important support level .

On the upside, a breakout on a weekly closing level of the ongoing steep downtrend line resistance would also be positive as it would change the trend move down to sideways-up.

III DAILY :


Currently in a slightly sideways-up parallel channel (in green): this $23.00-$25.50 trading range should be seen as a consolidation phase and should be used as a GOOD BUYING OPPORTUNITY, calling for higher levels

CONCLUSION :

This is a great strategic theme opportunity, trust me, the upside potential is huge.
BUY AT CURRENT LEVEL AND ON DIPS

OTHER INVESTMENT VEHICLE :


The best one is the following :


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

Last offer price : $ 1926.16 ) Oct 11, 2021

https://keyinvest-ch-fr.ubs.com/produit/…

Disclaimer :

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.