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Sprott Uranium Miners ETFSS

Sprott Uranium Miners ETF

53.93USDR
+0.37+0.69%
Last update at 20:31 GMT
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URNM trade ideas

Uranium in a Good Spot?The uranium spot price and mining equities have experienced a significant run since the pandemic lows-- largely due to SPUT purchasing from the spot market, panic buying by utilities at the beginning of Russia's invasion of Ukraine, and the prospect of Japanese restarts. But the days of going up multiple times over seem to be over: the spot price has been drifting sideways to downwards both due to SPUT reducing their buying and the typical utilities purchasing cycle having been completed earlier in the year. In the social media uranium space on Reddit, Twitter, and Youtube there is a mood of pessimism and disappointment. An endless parade of bullish catalysts--such as mergers and acquisitions, increased mineral estimates, incredible earnings, US Strategic Uranium Reserve purchasing and HALEU funding-- all seem to have limited impacts on the sector, raising up a penny stock here and there. As we enter 2023, I have two arguements for a reversal in the downtrend; one fundamental and another technical. I'm assuming the fundamental catalysts for another run in the uranium sector will be similar to the previous run. Sprott will increase their purchasing of precious metals in a declining interest rate environment, and that will extend to their purchasing of uranium as well. Utilities will enter another contracting cycle-- whether that is in early spring like 2022, or in late fall like it usually is, remains to be seen. And SWU prices (the cost of enrichment) remain elevated, no doubt having a downstream impact on the spot price. The uranium spot price is the main driver of bull runs in the uranium equities-- e.g. just take a look at the similarities between charts of $LEU and UX1!. Headlines about DOE funding and X-Energy's SPAC may drive inflows into the sector next year, but remember that sentiment in the stock market does not drive up purchases on the spot market On a technical note, take a look at the three points where I've circled on the daily chart of $URNM above. There is bullish divergence on the RSI (where it is making a higher high while the candles make a lower high). The MACD is crossing over to the upside, which often precedes a significant amount of momentum to the upside. The candlesticks from the past week have made a double bottom at $29.75, also touching for the third time the supporting trendline that has marked a temporary bottom in the structure where we have been for the past two years. Now this larger pattern has neither confirmed as a descending wedge (bullish) or a head and shoulders with a diagonal neckline (bearish). But I will wager that this is a bottom for $URNM and many uranium mining stocks for the near and possibly long term, barring new lows on the broader market.
ALong
by sdeutsch95
URNM relativeyes yes and yup yes yes and yup Need to know market risk Fed's Evans: I expect 4% as the next year's highest rates, but that's a forceful path of rate hikes. I expect rates are to be between 3.25% and 3.5% by the end of the year. Fed's Evans: I expect rates are to be between 3.25% and 3.5% by the end of the year. BoC Senior Dep. Gov. Rogers reiterates the bank's belief that policy interest rates will need to rise further. ECB's President Lagarde: If high hikes needed, we will do so. ECB's President Lagarde: It will take more than 2 meetings but less than 5 to get to the end of rate hikes. ECB: Looking ahead, ECB staff have significantly revised up their inflation projections and inflation is now expected to average 8.1% in 2022, 5.5% in 2023 and 2.3% in 2024. ECB: The expects to raise interest rates further, because inflation remains far too high and is likely to remain above target for an extended period.
A
by DoughTheory
1
URNM- URANIUM ETF BULLISH- GREAT SWING OR LONG TERM HOLD!I've had a position in URNM- AMEX:URNM Uranium for about 13 weeks and now and I'm really excited at how well this etf is doing. You can swing trade and possibly long term hold for a portfolio, since Uranium is the future need for energy in power plants and nuclear submarines and other naval ships. Find out all the details on my video technical analysis here! Give me a like and a subscribe and follow this trade which I will be updating. Disclaimer I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this TA,(Technical Analysis) are for informational and educational purposes only and do not constitute financial, investment, trading, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using or reading this technical analysis or site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this analysis, or post. AMEX:URNM
ALong
by CryptoBuzzAnalyst
$URNM - Available At a DiscountRussian forces recklessly shelled a nuclear plant last week. This led to a sell-off over concerns that countries might take a step back from nuclear power. This turned out to be an emotional overreaction. The plant was completely safe, and only an administrative building was damaged. Uranium plays are now available at a relative discount. According to Reuters, "The United States relies on Russia and its allies Kazakhstan and Uzbekistan for roughly half of the uranium powering its nuclear plants - about 22.8 million pounds (10.3 million kg) in 2020 - which in turn produce about 20% of U.S. electricity, according to the U.S. Energy Information Administration and the World Nuclear Association." "There is no uranium production or processing in the United States currently, though several companies have said they would like to resume domestic production if they can sign long-term supply contracts with nuclear power producers. Texas and Wyoming have large uranium reserves. Australia and Canada also have large reserves of uranium and there is ample processing capability there and in Europe. But Russia and its satellites are the cheapest producers." So with the White House considering sanctions on the cheapest available uranium, the price of this commodity will undoubtedly rise over coming weeks and months. According to World Nuclear Association, "Russia has substantial economic resources of uranium, with about 9% of world reasonably assured resources plus inferred resources up to $130/kg – 505,900 tonnes U (2014 Red Book)." This seems like a great play for a move back above $100.
ALong
by jaykenneyTRT
buy the dipSince my last post the pullback occured followed by a lot of fear in the market, spx dropping andvix shooting up over the omnicron stuff and just like clockwork the market stopped caring. On the daily we can see we are trading near the daily ema and normally I'd like to wait for price to get there but based on market conditions I doubt it. Zooming in we can see it has broke out of its downtrend line making it a good entry for the next leg up as the bullsa re finally to show that they got strength. Next target should be new highs possibly hitting the top of the channel again.
ALong
by gNnairdA