Western Uranium and Vanadium Corp. (WUC:CSE; WSTRF:OTCQX) has broken out of an 18-month basing pattern and met two targets from the last published chart.
Western Uranium and Vanadium has displayed remarkable technical strength and the break above the resistance in the $1.60 area makes the extended target of highs 3's to its third target of $4.14 now possible as the shares have broken out.
When looking at other U3O8 shares, they also are beginning to show a turnaround, also suggesting the sector could be on the verge of a substainable move higher.
Chart courtesy of StockCharts.com.
John Newell is a portfolio manager at Fieldhouse Capital Management. He has 38 years of experience in the investment industry acting as an officer, director, portfolio manager and investment advisor with some of the largest investment firms in Canada including Scotia McLeod, CIBC Wood Gundy and Richardson Greenshields (RBC Capital Markets). Newell is a specialist in precious metal equities and related commodities, and follows a disciplined proprietary approach incorporating equity research, analytical frameworks and risk controls to evaluate and select long and short stocks primarily from the Canadian small and mid-cap coverage. Many large, midcap and junior precious metal companies use his technical charts. Newell is a registered portfolio manager in Canada (advising representative).
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This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.
John Newell has based this document on information obtained from sources he believes to be reliable, but which has not been independently verified.
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John Newell manages the Fieldhouse Global Precious Fund Class G.
Additional Disclosures and Disclaimer from John Newell, Fieldhouse Capital Management, September 21, 2018:
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