Trading (URNM) With Integrated Risk Controls
March 26, 2024, 10:18 am ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for URNM
- NONE. Details
There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.
- Short URNM slightly under 49.49, target n/a, stop loss @ 49.63 Details
The technical summary data is suggesting a short of URNM as it gets near 49.49, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 49.63. 49.49 is the first level of resistance above 49.05, and by rule, any test of resistance is a short signal. In this case, if resistance 49.49 is being tested, so a short signal would exist.
Swing Trading Plans for URNM
- Buy URNM slightly over 49.49, target 50.51, Stop Loss @ 49.35 Details
If 49.49 begins to break higher, the technical summary data tells us to buy URNM just slightly over 49.49, with an upside target of 50.51. The data also tells us to set a stop loss @ 49.35 in case the stock turns against the trade. 49.49 is the first level of resistance above 49.05, and by rule, any break above resistance is a buy signal. In this case, 49.49, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short URNM slightly near 49.49, target 48.2, Stop Loss @ 49.63. Details
The technical summary data is suggesting a short of URNM if it tests 49.49 with a downside target of 48.2. We should have a stop loss in place at 49.63 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 49.49, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for URNM
- Buy URNM slightly over 49.49, target 49.76, Stop Loss @ 49.37 Details
If 49.49 begins to break higher, the technical summary data tells us to buy URNM just slightly over 49.49, with an upside target of 49.76. The data also tells us to set a stop loss @ 49.37 in case the stock turns against the trade. 49.49 is the first level of resistance above 49.05, and by rule, any break above resistance is a buy signal. In this case, 49.49, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short URNM slightly near 49.49, target 48.2, Stop Loss @ 49.61. Details
The technical summary data is suggesting a short of URNM if it tests 49.49 with a downside target of 48.2. We should have a stop loss in place at 49.61 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 49.49, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Sprott Uranium Miners Etf (URNM) available here: URNM.
URNM Ratings for March 26:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
49.49 |
| P2 |
49.76 |
48.2 |
54.09 |
| P3 |
51.22 |
50.51 |
59.29 |
AI Generated Signals for URNM
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for URNM:
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