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Uranium Resources stock (LSE:URA) is expected to go upward, owing to the Double Bottom Pattern in the market and the current price action. The market reached a floor on April and May 2015 before rising up significantly. At the end of July, it reached another floor, and now the price is taking off.
In the chart, we can see that the Williams’ % Range period 20 has already gone into the overbought region. This confirms the buying pressure in the market. While there may be occasional pullbacks, they are supposed to be short-lived because the bias is now bullish in the market. Since the price has already crossed the EMA 21 to the upside, it would be recommended that the stock is bought and rode higher towards the resistance level at 1.000. This can take only a few weeks or months.
Sir John Templeton (the greatest stock picker of the 20th century) was successful because he used his whole life with open-mindedness. He was not blinded by ego and he constantly searched for unconventional but sure-fire ways to make money. Without that, he would not have been a successful trader. Sometimes it’s on the mountain and sometimes it’s in the valley, but it’s triumph wherever. That is true of us.
This forecast is ended by the quote below:
“One thing that is certain in anyone’s trading journey is losses. Even the best traders lose from time to time. What the best traders have in common however is that they are very professional losers. Knowing how to lose properly is a must in a long and prosperous trading career.” – Sam Seiden
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