UROY LONG SETUP
UROYOn the daily chart UROY which is a uranium royalty play
is at a three month long. Outlook is good when energy
costs are rising and uraniums is widely considered
more green than Oil, natural gas and other CO2 producing
fuels.
The RSI Oscillator is in mid-range. Within the past
few days, a high spike of buying volume is noted.
A Doji candle a few days ago signaled the reversal.
It is there that I will set the stop loss.
I am targetting a 40-60 % retracement of the downtrend
mindful of the Fibonacci levels and so about a 20-25%
upside.
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