Skyharbour Resources (SYH.V) approaches major support as uranium looks to breakout

We here at Equity Guru are big fans of uranium. The commodity is still up 7% for the year, but could be on the verge of making another large run taking us back to the highs of 2022 and above.

In my most recent uranium weekly sector roundup , I discussed the range on uranium. Unfortunately, we did not breakout when uranium price tested the range highs:

The range still holds between $48.60-$53.60 with the breakout almost occurring just a few weeks ago. On the technicals, uranium bulls still need to be patient but a range provides a good time to search for and accumulate good uranium stocks while they are still cheap.

Longer term, analysts remain bullish on uranium. Recently, Amati Strategic Metals stated that the uranium outlook has turned favorable due to “accelerated decarbonisation initiatives and the emergence of financial players in the uranium spot market.” “A supply deficit is […]

About the author: StockMan

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