A uranium stock for the watch list
9th March 2023 07:46
by Alistair Strang from Trends and Targets
With the share price on a two-year uptrend and having already made one successful call on this stock, independent analyst Alistair Strang reveals his new targets.
A plaintive email reminded us we’d reviewed Yellow Cake Ordinary Shares (LSE:YCA) last year and in the time since, the share price successfully achieved both our targets (you can read my analysis here). We’d recommend a visit to the “About” section of the company website for clear and straightforward information about the company business model. But do investors really want exposure to uranium?
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With ever increasing positive attitude toward the nuclear power industry, it’s easy to suspect it’s a product whose time is coming, so once again we shall focus on the positive potentials, especially as the Red uptrend since 2020 appears to be providing a rather solid line, making it clear the company needs close a session below 365p currently to give an early clue for coming problems.
Certainly, today here in Argyll, the freezing temperatures coupled with the exorbitant cost of heating oil reminded us that cheap green energy should be available.
For Yellow Cake Plc, their share price need only exceed Blue on the chart, currently 425p, to ideally enter a cycle to 441p next with secondary, if exceeded, at 457p and the potential of a major change in the long-term prospects for the share price.
Above 457p currently looks capable of powering the share price toward a future 537p and a new all-time high. Hopefully the company avoids any pitfalls.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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