The past two months have seen the Uranium Sector ETF (URA) rocket higher by 60%.
Momentum is building for nuclear and alternative power sources.
Could the timing be right? Or perhaps getting closer?
Today, we look at the chart of the Uranium Sector (URA) and highlight a bullish setup that is comprised of a rising trend-line colliding with former highs (resistance).
Note that the following MarketSurge charts are built with Investors Business Daily’s product suite.
I am an Investors Business Daily (IBD) partner and promote the use of their products. The entire platform offers a good mix of tools, education, and technical and fundamental data.
$URA Uranium ETF Chart
As you can see, the up-trend line is narrowing into prior highs (resistance). This squeeze-like pattern could push price to new highs. Worth watching (with patience and discipline).
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
