Taki Tsaklanos over at Investing Haven notes that his outlook for Uranium spot prices remains very optimistic, and that things appear to be turning up lately:
As we correctly indicated in our uranium outlook 2018 that uranium spot will provide the final GO for the uranium sector to take off, we are delighted to see a rising uranium spot price. Combined with seasonal strength in the uranium market (as detailed in our outlook) it makes for a perfect receipt for the uranium market to engage in a secular breakout which turns the long term bear market into a newly born bull market.
Furthermore, Tsaklanos says that the Uranium ETF has eclipsed a major price hurdle from a technical perspective:
We have for a long time indicated that URA ETF has a critical price point: 15 points. After a triple bottom (higher lows) it seems that 15 points in URA is now cleared to the upside. This paves the way for a run towards 25 points.
As a result, he remains very bullish on the sector and URA itself heading into 2018.
The Global X Uranium ETF (URA) was unchanged in premarket trading Monday. Year-to-date, URA has gained 24.48%, versus a 20.33% rise in the benchmark S&P 500 index during the same period.