Uranium Sector Looks Like a Buy

Includes: DNN, NLR, URA, URG, URRE
by: Jeff Pierce

This is a tricky sector to analyze given the volatility, and I almost didn’t do this post because I’ve covered this sector a lot lately, but I wanted to alert you to the possibility that this sector is about to take off again. It seems these ETF’s have found support around the RSI 40 level and as long as the precious metals sector doesn’t take a dive I feel we could turn back up from here.

I like Denison Mines (NYSEMKT:DNN) the best, with Ur-Energy (NYSEMKT:URG) and Uranium Resources (NASDAQ:URRE) a tie for second, as these are the strongest in the sector. Given that I’m already quite a bit in the market and don’t want to expose myself too much, I haven’t decided if I’m going to pick any of these shares up. It’ll probably be a game time decision with how the market opens and my current positions do. Click on charts to enlarge.

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