September 3rd, 2008 • Related • Filed Under This morning we are getting into URRE. The chart seems to indicate a possible bottom in the stock, or it could just be a slowing in the downward trend over the recent months, but either...
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September 3rd, 2008 • Related • Filed Under This morning we are getting into URRE. The chart seems to indicate a possible bottom in the stock, or it could just be a slowing in the downward trend over the recent months, but either way we are looking for some upward movement in URRE: Volume is spiking this morning, which we like, especially when we see PHILS X2 turning blue, which is signaling institutional buying coming in: The above two charts make URRE look even more attractive when we see the Stochastics in our chart with the %K (Red Line) crossing the %D (White Line), this typically signals an excellent entry point in a stock, when other technical indicators are present like we are discussing this morning: Our 15 Minute Chart is relatively flat for the week and URRE is moving without news this morning, so we are going to have a tight stop following URRE: Our Weekly Chart looks good, not great, but it is signaling a possible up trend, though it does not have momentum in the 15 Minute Chart: Finally our PHILS X1 is showing support at $2.19 which URRE is well above and resistance at $2.54, which URRE is just under this morning. With the increasing volume we are looking for URRE to push through resistance and find a new support level:
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The above two charts make URRE look even more attractive when we see the Stochastics in our chart with the %K (Red Line) crossing the %D (White Line), this typically signals an excellent entry point in a stock, when other technical indicators are present like we are discussing this morning:
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