Uranium (URA) To All-Time High

3 thg 2, 2021

After reducing my crypto risk and securing profit, I decided to add a small URA position. This is a long term swing trade opportunity, similar to the opportunity I saw in GME (which I regrettably didn't take). However, I DID post about it, and why I thought a short squeeze was possible. I thought it could squeeze to ATH , but I wasn't aware of what was happening with the Reddit community around the stock. Here is my GME analysis from October:

This trade is ultimately targeting all-time high for URA. Why? I'm hedging against the future here. A couple of things could drive Uranium price higher. Both can happen.
1)Demand for alternatives to fossil fuels and gas --- nuclear is one of them, and it has gotten much safer in the decade since the Fukushima disaster.
2) Economic collapse. This could cause war and a scrounging for resources that can be used for energy.


As I mentioned, this is a small position. I have bought twice recently, with an average price of $15.49. I'm building for a long-term swing trade. The technical setup is also looking very good. It looks like a failed low and a long term breakout from some major downtrends. Potential targets are in green.

This is not financial advice! This is for educational and speculative purposes only.

-Victor Cobra

11 thg 2, 2021

Ghi chú

Getting into a heavy horizontal resistance area. I loaded up a little more recently. Aiming for a strong breakout above the $20 level, but could take some time.

11 thg 2, 2021

Ghi chú

This trade will most likely take years to play out, so I'm in no rush here.

16 thg 2, 2021

Ghi chú

I bought more in the $17 range last week. The Texas incident has caused a little bit of FOMO here in the energy sector, as people are realizing that nuclear energy might be a better alternative, along with solar.

16 thg 2, 2021

Ghi chú

Heading to the first major weekly target now.