NexGen Energy Ltd.(NXE, NYSE) (01/10/24)

01/09/24

NexGen Energy Ltd.

(NXE, NYSE)

Open Position: 3%

ACB: $5.68

Last: $7.05

Stop: TBD

[Please Note: In order to make room in the US$ side of the Core Growth Fund, we switched NXE.US, for the Canadian listing (NXE.to). It was a straight cross over so, while the share price is different now, we continue the chart analysis form the original U$ position.]

• The November 29th chart is a longer-term weekly chart. Today's chart is a daily chart.

• For the last few months, the Uranium spot price has continued to squeeze higher but in the last few weeks, uranium stocks have consolidated. 

• After weeks of sideways movement, NXE bounced off of the 50 Day Moving Average and pushed to new highs. 

• The world is still undersupplied of uranium and the political winds now appear to be at the back of this sector, instead of the headwind it has been. 

• As such, the bull market in this important energy source, and high-quality producers likely has a way to go yet.

• Our Chart of the Day is intended to be a standalone technical chart. 

• We use them to highlight open positions, stocks on our watch list, or indicators that we believe are important, or just interesting at the time.

• It is not a directional market call.

• Feel free to share them with others who may be interested.