December 2nd, 2023

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ChartWorks: published by Institutional Advisors
Bob Hoye
August 19, 2007
Technical observations of

In March we likened the uranium’s to the oil sands of 2006. . . a story that had moved from “page sixteen to page one” which all well-informed investors were aware of. A correction in the stocks to the 20-week Bollinger Band with a weekly CCI(20) target of -150 appeared to be in the cards. By mid June most stocks in the sector had achieved these downside targets. A few (Cameco and Tournigan) were bucking the trend, but have since succumbed as pressure mounted across all sectors of the market.

Over the years we’ve written about the 19 to 21 week corrective process that the uranium’s have gone through since bottoming in March of 2000. We are now within two weeks of the time frame for a low and any move back above -150 in the weekly CCI(20) would suggest that the bottoms are in place. Initially, a corrective rally, retracing 40% to 50% of the past four week’s decline and testing the June lows appears in order.

August 19, 2007

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