Uranium has been on a tear... and should continue a rolling broad market move at least for the next couple of months.. (ranging upish)... although this is speculation... also watch the sector for signs of correction... which I doubt will react with too much sympathy even in the face of a general broad market decline should we get one sooner... there is more concern for a uranium consolidation within the broad market... the likely place it will take hold is about the month of May in the regular Go Away in May Cycle when if we get that far, where there should be a lot of overbought issues... there have been times when go away in May has been weak, but only if the broad market heading there was not particularly overbought as it is now.
We will almost certainly have a broad market correction for that reason... (JMOP) tight stops (mental) and risk management are advised.
URC.V has left a bad taste in the mouths of many at the hands of Cannacord dumping shares in very unprofessional and unethical way (IMOP) a few months back, and as such they destroyed a following that took many months to develop momentum... which says a lot about concern for retail investors, and a definite lack of insight to the value therein, or an overwhelming concern to sacrifice for their own greed.
Trust in management was also destroyed in this traders eyes due to conversations on the phone where there was a total absence of concern to the plight of share holders caught in the flurry... A don't worry it will all work out... take your lumps it... will be fine type of attitude just didn't cut it with me. There is value in that following, and a person who fails to recognize it is lacking in some important management skills if that's business as usual.
However, this is about spotting potential moves so I swallow my disappointment in Cannacord and URC.V management... for those who are not holding... over the next week or so it seems to be a breakout... or one more time into the breach... and a load up in the .28 cent to 31 cent area for a position.. I personally would aim for .285 or .29... but would like to see .26ish as an entry.... which if the wiggle the chart (breakout?)... is doing is accurate........... may be wishful thinking......
Don't chase... Check out the "URC.V Special Focus Study in the right hand side bar.
Over the last while I have been charting and monitoring.URC.V on a daily basis, and as such it has weathered well the volatility we have seen in the broad market... and on the flip side, once Cannacord has finished business as usual... if the motivators are right... a stock can break out of their strangle hold.
I like the low price as it has room to move, and if my speculation on the reasons for it being this way as a result of the Cannacord heavy hand and insensitive management.. at this point those poor qualities will be moot... and a double edged edged sword with no conscience may take an upswing...
GLTA Lostoutwest
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