RE: 2.04 day high
I was just reviewing their Q2 statements and MDA yesterday and thinking this is a good company with solid earnings. Some political risk operating in Kahakhstan and parterned with ARMZ, but nevertheless they are providing some good earnings even with the price of uranium down.
Looking at the charts today though, the price jump is nice but they are now over their top bollinger band, which indicates this will pull back a bit. The MACD is positive, although the moving averages are trending downwards. RSI is at 58 and strengthening in the past couple days of trading.
Watched the BNN video that someone posted on this board a while ago on Chris Sattler's interview with the BNN Panel. He said that the production in Kazahkstan has matured and their focus for growth in the future is in Africa. With that and future nuclear reactors being built in India and China, it bodes well for future demand for uranium, even after Germany and Japan, which nuclear plants are a hot political issue.
Target price of $3 isn't out of the question, although I doubt we will see that price next week. Maybe in a few months in a nice gradual rise. If the price gets ahead of itself, it sets up a perfect scenario for day traders and short sellers to manipulate the stock.
Steamer