Uranerz has not yet found a support, and until it does we would rather wait for a while, than buying now when it is uncertain just how far this stock will fall.
Although on the surface we see no problems with the fundamentals of Uranerz at the moment, we must wait for the stock to find a support level before buying, otherwise we risk falling further with the stock.
Other uranium stocks have begun to consolidate and find support levels. Recently we wrote about Mega Uranium needing to find a support level and then we wrote another article as soon as it looked like Mega had found this support. Laramide also has begun consolidating.
We will wait paitiently to see just how cheap this uranium stock is about to get before considering a purchase. As always, our readership will be kept fully informed.
Uranerz Energy Corp trades as URZ on the AMEX.