Uranium One Inc SXRZF

RE: don't care all that much for charts

[dcicci]

@moonzombie

Charts aren't everything, but remember every point isn't just a randon event.  It has alot to do with market psychology and knowing when the masses are more likely to make purchases and when they are more likely to sell.  Even just looking at UUU, look at the spikes in volume when it was hovering around 2.20.  This tells you that alot of people bought shares at those prices and those people likely won't sell if the price comes back down to 2.20 thus creating a support level.  If it goes below those levels, then the people that bought at 2.20 will consider selling and the support will break until people feel it's a good buy again, like maybe $2.00.  This is just an extremely basic example. 

You might not care for it, but a lot of people do, and you better believe that alot of the big players use technicals to gauge entry and exit points.  So it absolutely has an effect on stock price regardless of whether you acknowledge it at all.

A good trade involves a fundamental and technical analysis before and during the trade as well as staying up to date on all the current events related to the market and the industry.

UUU is amazing fundamentally (that point's been hamered to death), and the technicals are starting to perk up.  Take a look at the chart at the end of July peak and you can draw a line from the peak going steeply down hitting almost perfectly 4 separate points along the downtrend. We've now bucked that trend line and entered consolidation at 2.50.  The market is stabilizing, price of uranium is rising, and entering a seasonal strong season for the industry.  The good news is starting to turn up and my money is betting on UUU to make a strong run to $3.00.