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by Koos van der Merwe
Uranium Participation is an investment holding company that invests substantially all of its assets in uranium.
Position: Hold
Koos van der Merwe
Has been a technical analyst since 1969, and has worked as a futures and options trader with First Financial Futures in Johannesburg, South Africa.
PRINT THIS ARTICLE
TRIANGLES
Uranium Participation
02/12/07 09:23:56 AMby Koos van der Merwe
Uranium Participation is an investment holding company that invests substantially all of its assets in uranium.
Position: Hold
| The objective of the Uranium Participation Corp. is to provide an investment alternative for investors interested in holding uranium. Securities are listed and trade on the Toronto Stock Exchange and a net asset value is calculated and reported monthly. |
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| FIGURE 1: URANIUM PARTICIPATION CORP., MONTHLY. Uranium Participation shows an Elliott wave formation. |
| Graphic provided by: AdvancedGET. |
| |
| Figure 1, a monthly chart, and shows how the price moved from a low of $3.08 on September 29, 2000, to the present high of $14.87. The chart also suggests an Elliott wave account with a wave 3 completed and a wave 4 suggesting targets of 12.27 and 10.59. The relative strength index (RSI) is overbought but has not given a sell signal, so we could expect a further upside movement or a sideways movement until a more definite signal is given on a monthly scale. To resolve this, we turn to Figure 2, a weekly chart. |
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| FIGURE 2: URANIUM PARTICIPATION CORP., WEEKLY. Uranium Participation shows triangular consolidation patterns and breakout levels. |
| Graphic provided by: AdvancedGET. |
| |
| Figure 2 shows how the price rose on up bursts following a consolidation triangle or flag pattern. The present high suggests that one is due now. Once again the RSI is overbought, with a sell signal not given. |
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| FIGURE 3: URANIUM PARTICIPATION, DAILY. This OmniTrrader chart shows buy and sell signals, with the present indicator being a buy and hold. |
| Graphic provided by: Omnitrader. |
| |
| Finally, Figure 3, a daily chart, gave an RSI/stochastics buy signal on January 15, reinforced on January 19 by a Fisher moving average convergence/divergence (MACD) signal. No sell signal has been given and both indicators are positive. |
| Figure 3 suggests that if you are a holder of Uranium Participation, then continue to hold using a stop-loss signal to close the position. Should you wish to purchase the stock, weekly and monthly charts suggest that you wait for a price correction before buying. |
Has been a technical analyst since 1969, and has worked as a futures and options trader with First Financial Futures in Johannesburg, South Africa.
| Address: | 3256 West 24th Ave |
| Vancouver, BC | |
| Phone # for sales: | 6042634214 |
| E-mail address: | petroosp@gmail.com |
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Date: 02/12/07Rank: 2Comment:
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