originally published Sunday, January 07, 2024

Uranium Stocks Uranium Stocks

We had a sizeable profit in uranium stock Skyharbor Resources which we bought at a very good entry point early in August, but missed opportunities to take these profits late in September and again in mid-November ahead of a significant but normal correction. We can see all this on its latest 6-month chart below and the reason for bringing it to your attention now is that it is believed to be at a very good “buy spot” here ahead of renewed advance rather like Snowline Gold that we picked up at a similar low in mid-November before it took off higher again. The reasons that the corrective downtrend from mid-November is believed to be normal is that it has brought the price back to a point above its still rising 200-day moving average where it appears to be stabilising and in addition the Accumulation line has held up very well on the correction, almost flatlining, which is bullish. With Skyharbor now deeply oversold and at a support level this looks like an excellent point to buy or add to positions ahead of renewed advance.

Skyharbour Resources website

Skyharbour Resources Ltd, SYH.V, SYHBF on OTC, closed at C$0.47, $0.343 on 5th January 24.

Posted at 12.15 pm EST on 7th January 24.

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.