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RPT Uranium: Up 18.42% today!

RPT Uranium Chart 10 June 2008

Having found support at the $0.15 level this minnow has now managed to gain about 50% in the last month, yet another example of buyers creeping back into the uranium sector and snapping up a few bargains. The volume was a healthy 841,000 shares traded and the stock price now stands at $0.22. This is a small company with a market capitalisation of $26.23 million.

Taking a quick look at the chart we can see that RPT found support at $0.15 and has managed to consolidate at this level over the past few months. The last few weeks has seen it gather some strength and put in a small rally. The technical indicators are on the ceiling at the moment so some sideways action and consolidation at this level may be the order of the day.

However it is good to see another uranium stock heading north after the battering this market sector has taken. As we see it investors are returning as evidenced by the occasional jump in the price of a particular uranium stock on any given day. This activity was erratic to say the least, but we can see signs that the frequency of these ‘jumps’ is on the increase and generally across the board things are improving. Its true that one swallow does not make a summer but we have spotted a number of swallows lately, so better times could follow soon.

We have not sold any of our uranium stocks during this period as we adopted a strategy of grin and bear it. With every little price increase we feel a little better and just maybe the days of being able to grin again are about to return!

Have a good one.

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Reader Comments (1)

i noticed URZ is up tis week on no posted news. any ideas? also, uec received a draft permit for their Goliad mine in south texas., first step toward production and they retreat.

June 13, 2008 | Unregistered Commenterrichard mruz

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