Trade Idea | $URA | URA Bull or Bear?

Trade Idea | $URA | URA Bull or Bear?

This is a Uranium ETF it does not trade much volume so a wider stop is needed if you play this also options are not that deep either so not ideal for calls or puts. This traded about 82k shares on 7/5. Our swing trading system had a bullish signal come in so it is on the radar for a BUY.

You can see nice hammer it put in at old resistance from the image below. But we are waiting on more confirmation before we look to enter long shares.

Also you can see the image below points out that it is not far from its 21 day average so a neutral sign that $URA can still go both ways, just in time for pride month ending. We also watching the white line which is the 200D SMA.

We will be patiently waiting for more price action and days to occur before we decide on entering long shares on $URA.

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