- Yellow Cake oscillates to FY-2023 loss.
- The YCA stock slid -0.62% during the previous intraday session.
- The year-to-date return of YCA stock is 19.51%, and the three-month return is 11.97%.
Yellow Cake stock price has followed a downtrend momentum since 2 February 2023. The bearish sentiment pulled the price roughly 16%. It dragged the price to the annual low of £352.2 on 24 April 2023. Once the downtrend halted at an annual low, the bulls snatched control from bears and began an upward momentum.
The YCA stock rebounded with a rejection from £352.2 level after experiencing a remarkable downtrend. The stock price has followed an uptrend trajectory since 24 April 2023 while forming higher highs and lows. The stock price surged approximately 30% since then, along with the trendline.
Yellow Cake Oscillates To FY-2023 Loss
Despite a confident performance in the fiscal year 2023, the company reported uranium investment compared with gains of tear earlier. It lost $96.9 Million, compared with gains of $424.1 Million in the previous year in the uranium investment.
The Present Scenario.
The present market structure reflects that YCA stock might surge further while following the uptrend trajectory. If that happens, the price might hike towards £470 and achieve a new annual high.
On the contrary, if the uptrend momentum breaks and the price observes a sudden drop, it might melt. It may retest the previous resistance level of £441.0. The price hovers at £445.8 during the intraday session with a high of £458.4 and a low of £445.8.
Will YCA Stock Accomplish A New Annual High?
The YCA Stock price is now hovering above the 20, 50, 100, and 200-day EMA. It indicates the current uptrend and strong bullish sentiment in the market.
The RSI (relative strength index) has been hovering above the 50 mark since 16 August 2023. The RSI score was 63.70 during the intraday session, reflecting heavy strength in the market.
The CMF (Chaikin Money Flow) score is 0.08 during the intraday. It indicates slight buyer participation in the market. However, the market capitalization of JD.Com Inc. is £912.33 Million, with an average volume of 438.59K shares.
Conclusion
The market structure and price action of Yellow Cake have turned bullish after the event of 25 April 2023. Technical indicators suggest a rise in the bullish trend, but investors should wait for the next move.
Technical Levels
- Major resistance: £458.4 and £449.0
- Major support: £353.4 and £352.2
Disclaimer
The information provided in this article. Including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.