Uranium Energy

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Uranium Energy ( UEC) is an exploration-stage company. It is a natural resource exploration company engaged in the exploration of properties in the U.S. This stock is trading up 8.6% at $2.01 in recent trading.

Today's Range: $1.88-$2.02

52-Week Range: $1.75-$4.44

Volume: 632,000

Three-Month Average Volume: 751,642

From a technical perspective, UEC is moving sharply higher here with decent volume. This move is coming after the stock looks to have formed a double bottom chart pattern at $1.76 to $1.75.

Traders can now look for long-biased trades as long as UEC holds those double bottom price levels, and then once it trades back above its 50-day moving average of $2.07 with high volume. Look for a sustained move or close above $2.07 with volume that's near or above 751,642 shares. If we get that action today or soon, then UEC will have a great chance of re-testing and possibly taking out some past overhead resistance levels at $2.30 to $2.36.

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