originally published Wednesday, December 20, 2023

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Uranium Stocks Uranium Stocks

The purpose of this brief update is to point out that although uranium stock Atha Energy hasn’t risen much since we first looked at it on the 7th of this month, its technical condition has continued to strengthen noticably which makes it even more of a buy.

On its latest 4-month chart we can see that it tried to break out of its Cup / Double Bottom base a few days ago and the fact that it didn’t succeed on this occasion is not negative at all. The brief stab higher drained off some overhanging supply and we can also see that there has been good upside volume in recent days which is bullish especially as it has led to a strong advance in the Accumulation line. In addition we can see that momentum (MACD) continues to improve, so it is viewed as only a matter of time – and not much at that – until it does break out of this base pattern, whereupon it should advance initially to the resistance zone approaching and at C$1.30.

We therefore stay long and Atha Energy is viewed as more of a buy here than we first looked at it on the 7th.

Atha Energy Corp website

Atha Energy Corp., SASK.CSX, SASKF on OTC, closed at C$1.02, $0.767 on 19th December 23.

Posted at 7.15 am EST on 20th December 23.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment or securities advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market technical analyst, Clive Maund is not a Registered Investment Advisor or Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be construed as a recommendation or solicitation to buy and sell securities.