Wednesday
Mar282007
Laramide: An upside breakout
Wednesday, March 28, 2007 at 10:55AM
The chart for Laramide shows that this uranium stock has now exceeded its previous record high and is now in uncharted waters.
At the beginning of March it was around $10.50 it is now close to $15.00. No doubts that the recent increase in the price of uranium to $95.00 per pound has helped push this quality stock to the higher ground.
The question now is will it keep going?
Well if we take a quick look at the chart we can see that it suffered in the recent market sell off but bounced back showing great strength in the last few weeks. The technical indicators have moved closer to the top of their ranges, which suggests to us that Laramide could well take a breather at this point, and go through a short period of consolidation.
We will hold and smile.
28 March 2007
At the beginning of March it was around $10.50 it is now close to $15.00. No doubts that the recent increase in the price of uranium to $95.00 per pound has helped push this quality stock to the higher ground.
The question now is will it keep going?
Well if we take a quick look at the chart we can see that it suffered in the recent market sell off but bounced back showing great strength in the last few weeks. The technical indicators have moved closer to the top of their ranges, which suggests to us that Laramide could well take a breather at this point, and go through a short period of consolidation.
We will hold and smile.
28 March 2007
Reader Comments (2)
excellent
What Laramide is being discussed here? I have LMRXF.PK which is a dog a 4.6.. Is this the same company and if so why hasn;t this stock followed in step with the other.