URA trade ideas
URA is looking different this timeWe have a higher low after breaking the trend line this time. It's a multi year behaviour change. Maybe we have hit a bottom already?
Long Uranium Miners This investment idea is not written for the ethical investors among us. ;)
Nevertheless, I would like to show you the possible reversal in the uranium miners trend.
The monthly chart clearly observe bullish divergence (incl. Falling wedge). In addition, an inverted hammer is formed this month. If the bottom is set, then I see a lot of upside potential for the URA to perhaps $39 (+200%) in the following months. Stoploss can be set @ $10 (-20%).
Beware of the high volatility of the ETF. It will be a bumpy ride, for sure.
Bullish Orderflow in URAA trader bought 1,000 of the URA Apr 16 Calls for $0.55. Over 4,700 have now traded on that representing nearly 16 times the average daily option volume in URA.
