Thursday, March 31, 2016 11:45 PM EDT
TM Editors' Note: This article discusses a penny stock/microcap. Such stocks are easily manipulated; do your own careful due diligence.
It is very rare that we write about the uranium market. A while back, we concluded that uranium could be setting up for a breakout, although it eventually refused to do so.
So far, we do not see any significant move in this market segment. As long as there is no constructive signal out of the market, we simply do not take or recommend any position. Let’s face it: the uranium market can continue to consolidate for many years, or, alternatively, continue its decline.
There is one small uranium miner that should definitely be on investor’s radar: Fission Uranium Corp (FCU.TO)(FCUUF). The company is in exploration phase, so it’s a very high risk play. The market is still confident about the potential of this company, evidenced by the fact it is still trading above its 2010 highs.
Basically, Fission is consolidating for a year right at the levels of its 2010 highs. Again, this consolidation phase can go on for one, two, or even five years. Nobody knows. But we do know that, once this sector resumes its uptrend, the share price of Fission can really explode. We are talking a potential tenbagger.
Meantime, investors should watch the uranium price as well as the shares of large uranium companies (think Cameco). As soon as they start breaking out, it will be the time to consider a a position in Fission Uranium Corp.
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