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Uranium Stocks Rally Amid Renewed Interest
Uranium stocks have recently regained attention, buoyed by a notable rally in Cameco Corporation (TSE: CCO). This resurgence in interest has led to impressive gains among local uranium stocks, fueled by several key factors:
- The United States government is placing significant emphasis on nuclear energy as a cornerstone of its transition to zero-carbon, reliable power sources.
- China’s robust plans for ongoing nuclear reactor construction remain unaffected.
- Increasing Middle Eastern tensions highlight the global need to move away from oil dependence.
While there are numerous dynamics at play, my focus is primarily on the current favourable charts of ASX-listed uranium companies.
Stocks such as Bannerman Energy (BMN), Boss Energy (BOE), Deep Yellow (DYL), and Nexgen Energy (NXG), alongside uranium ETFs like the Global X Uranium ETF (ATOM) and BetaShares Global Uranium ETF (URNM), have all shown promising uptrends recently.
In addition to these, several other stocks are exhibiting strong uptrends. For investors keen to balance their portfolios with short positions, there are notable downtrends available for consideration.
ChartWatch Daily ASX Scans
Welcome to my "ChartWatch Daily ASX Scans" series, where I share insights derived from a trend-following technical analysis methodology aimed at highlighting the best opportunities in both uptrends and downtrends on the ASX.
Utilising these lists can assist investors looking to buy into stocks with positive momentum while steering clear of or short-selling those in decline. Keep in mind that many stocks in these lists may repeatedly reappear as long as they meet the specified criteria.
Uptrends Scan List
| Company | Code | Last Price | 1-month % | 1-year % |
|---|---|---|---|---|
| Amaero International | 3DA | $0.385 | +57.1% | -6.1% |
| Adriatic Metals | ADT | $5.45 | +46.5% | +39.0% |
| Global X Uranium ETF | ATOM | $20.00 | +31.0% | +30.0% |
| Brickworks | BKW | $32.87 | +18.9% | +24.5% |
| Bannerman Energy | BMN | $2.96 | +1.7% | -28.7% |
| Boss Energy | BOE | $4.33 | +8.0% | +7.2% |
| Bubs Australia | BUB | $0.170 | +41.7% | +41.7% |
| Cobram Estate Olives | CBO | $2.10 | +12.3% | +15.4% |
| Codan | CDA | $19.90 | +17.2% | +86.3% |
| Vaneck Global Defence ETF | DFND | $35.15 | +9.8% | 0% |
| Downer EDI | DOW | $6.32 | +3.4% | +36.5% |
| Deep Yellow | DYL | $1.570 | +18.0% | +9.0% |
| EDU | EDU | $0.290 | +75.8% | +45.0% |
| Fisher & Paykel Healthcare | FPH | $34.71 | +1.5% | +25.1% |
| Helia Group | HLI | $5.40 | +3.6% | +41.9% |
| iShares MSCI South Korea ETF | IKO | $107.64 | +14.0% | +6.7% |
| Iperionx | IPX | $4.62 | +48.6% | +106.3% |
| Lynas Rare Earths | LYC | $9.28 | +24.4% | +41.9% |
| Nexgen Energy | NXG | $10.74 | +23.4% | +7.8% |
| Pexa Group | PXA | $12.84 | +9.8% | -10.7% |
| Shape Australia Corporation | SHA | $3.64 | +13.0% | +67.0% |
| Singular Health Group | SHG | $0.400 | +25.0% | +281.0% |
| Superloop | SLC | $2.93 | +14.9% | +101.4% |
| Washington H Soul Pattinson & Co | SOL | $40.46 | +8.3% | +25.4% |
| Toubani Resources | TRE | $0.320 | +16.4% | +106.5% |
| BetaShares Global Uranium ETF | URNM | $8.68 | +16.7% | -7.7% |
| Vysarn | VYS | $0.470 | +13.3% | +56.7% |
Downtrends Scan List
| Company | Code | Last Price | 1-month % | 1-year % |
|---|---|---|---|---|
| Ansell | ANN | $30.60 | -5.3% | +20.2% |
| Avita Medical | AVH | $1.700 | -19.4% | -38.0% |
| Accent Group | AX1 | $1.350 | -30.8% | -32.5% |
| Bellevue Gold | BGL | $0.930 | +12.0% | -54.0% |
| Cettire | CTT | $0.250 | -53.7% | -89.0% |
| Dicker Data | DDR | $7.83 | -9.1% | -17.8% |
| Dexus | DXS | $6.89 | -5.7% | +4.1% |
| Endeavour Group | EDV | $3.99 | -1.5% | -20.7% |
| Findi | FND | $3.73 | -13.7% | +12.3% |
| GWA Group | GWA | $2.22 | -9.4% | -3.1% |
| Healius | HLS | $0.805 | -25.1% | -24.1% |
| Integral Diagnostics | IDX | $2.27 | -8.1% | -4.6% |
| Immutep | IMM | $0.245 | -18.3% | -38.8% |
| IPH | IPH | $4.67 | -4.3% | -27.0% |
| Jumbo Interactive | JIN | $9.50 | -3.1% | -40.3% |
| Light & Wonder | LNW | $126.28 | -3.8% | -12.9% |
| Pilbara Minerals | PLS | $1.310 | -18.6% | -61.6% |
| Redox | RDX | $2.10 | -27.8% | -29.8% |
| Reliance Worldwide Corporation | RWC | $4.29 | -7.9% | -10.3% |
| Select Harvests | SHV | $4.44 | -9.6% | +35.4% |
| Sayona Mining | SYA | $0.015 | -6.3% | -61.5% |
| Treasury Wine Estates | TWE | $7.93 | -8.3% | -33.6% |
| Wildcat Resources | WC8 | $0.130 | -27.8% | -61.2% |
Conclusion
As trends evolve, investors should remain vigilant; the stock market can shift unexpectedly. This overview offers valuable insights into current market movements, highlighting potential investment opportunities while also signifying the importance of personal research before acting.
