Lots of talk around #uraniumsqueeze going on in WSB and fintwits. I did get a position in $UUUU myself last week since the price action peeks my interest.
Did a little bit digging, and this run is said to start from Sprott, a fund that started buying physical uranium thus jacking price up. I've been looking at history of commodity prices like $GOLD $SILVER etc. Bull runs tend to start after a strong breach of several previous lower highs and above 200 ema. Buying opportunities usually go in the form of a weekly setup 9 buy that is above 200 ema, and is also the highest weekly buy setup in a long period of time. In $URA case, this is the highest weekly buy setup in 5 years.
I will keep in touch with the news and track the price action in the following week. Position size are still small, however since the last 2 weeks' price action have been bonkers, I anticipate strong follow-through.
Ideal scenario would be a small pullback, then price moves up 25% of this month impulsive move. I will add on that break. Would also watch daily Demark signals for more entries.
Did a little bit digging, and this run is said to start from Sprott, a fund that started buying physical uranium thus jacking price up. I've been looking at history of commodity prices like $GOLD $SILVER etc. Bull runs tend to start after a strong breach of several previous lower highs and above 200 ema. Buying opportunities usually go in the form of a weekly setup 9 buy that is above 200 ema, and is also the highest weekly buy setup in a long period of time. In $URA case, this is the highest weekly buy setup in 5 years.
I will keep in touch with the news and track the price action in the following week. Position size are still small, however since the last 2 weeks' price action have been bonkers, I anticipate strong follow-through.
Ideal scenario would be a small pullback, then price moves up 25% of this month impulsive move. I will add on that break. Would also watch daily Demark signals for more entries.