Uranium Stocks Continue Bearish Roller Coaster Ride

By: Merv_Burak

Note that the volume is an average volume of round lot sales for the 50 component stocks. For total volume, multiply by 5000.

The roller coaster continues. Today is an up day, tomorrow ??

The Merv's Daily Uranium Index closed higher by 5.57 points or 1.99%. There were 26 stocks on the up side, 18 on the down side and 6 on no side at all. Cameco gained 2.3%, Denison gained 3.1%, First Uranium gained 0.6%, Paladin gained 7.2% and Uranium One gained 5.9%. The best gainer was Yellowcake Mining with a gain of 22.2% while the worst loser was Mawson with a loss of 10.9%.

On the intermediate term we are just a hair shy from the Index closing above its moving average line. The moving average continues to slope downward but less and less so. The momentum indicator remains in its negative zone but above its positive trigger line. The rating remains BEARISH for another day.

On the short term the Index continues above its positive moving average line. The momentum indicator continues just above its neutral line but below its positive sloping trigger line. The short term remains BULLISH .

By Merv Burak, CMT
Hudson Aero/Systems Inc.
Technical Information Group
for Merv's Precious Metals Central

For DAILY Uranium stock commentary and WEEKLY Uranium market update check out my new Technically Uranium with Merv blog at http://techuranium.blogspot.com .

During the day Merv practices his engineering profession as a Consulting Aerospace Engineer. Once the sun goes down and night descends upon the earth Merv dons his other hat as a Chartered Market Technician ( CMT ) and tries to decipher what's going on in the securities markets. As an underground surveyor in the gold mines of Canada 's Northwest Territories in his youth, Merv has a soft spot for the gold industry and has developed several Gold Indices reflecting different aspects of the industry. As a basically lazy individual Merv's driving focus is to KEEP IT SIMPLE .

To find out more about Merv's various Gold Indices and component stocks, please visit http://preciousmetalscentral.com . There you will find samples of the Indices and their component stocks plus other publications of interest to gold investors.

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