- The UROY stock recovered well from the 52-week lower level.
- UROY share’s price surged by a massive 9.69% in the last trading session.
- The net profit surged marginally in the last 3 quarters.
The current market price of UROY stock is $3.17.
Uranium Royalty Corporation stock price showed a great jump from its lower level. The stock has formed a base near the level of $1.80- $1.90. It showed a massive strength in the previous trading session as the price jumped by $0.28 or 9.69%. The stock price has formed a giant bullish candle on the daily chart.
Uranium Royalty Corporation share price surged by over 1% in a week, 24% in a month, and 33% in a year. It states that the bulls have taken control of the price and dominated the sellers. The price, however, has been declining sharply till the beginning of the year 2023.
The UROY stock price started a downward trend in 2021 due to the poor performance in the financial report. This firm has witnessed a massive decline in Net income of over 195% and 30% in the last two financial years. However, the stock price has surged from the lower level because of the improvement in the financial tally of the firm.
A Short Outlook of the Chart
The UROY price has given a breakout from the falling wedge pattern in the August month. The stock price has retested the trendline and shown an exceptional move on the upside from that level. It seems that the stock price is ready to show an amazing upside in the coming days.
If one considers the resistance area of the price, then the major resistance is present at the level of $3.33. The other two important resistances are present at the level of $3.58 and $4.59 level. If the support level is marked, then it is present at the $2.33 level. The other important support for the price is present at the level of $1.89.
Are Indicators Showing the Same About UROY Stock?
Exponential Moving Averages
The stock has shown a golden crossover in July 2023. This led the stock to a massive up move. The slope of the 50-day and 100-day Exponential Moving Averages are upward which indicates bullishness. Both the EMAs are present at $2.53 and $2.28 levels respectively.
Relative Strength Index
The Relative Strength Index of the stock is currently placed at 65.98. It shows that the stock is heavily bullish right now. The RSI has shown a bullish divergence as the price was going down but the RSI rose at that time.
Conclusion
The UROY stock price has shown great strength in the past few months. If the stock price is able to cross the resistance level of $3.33, then it can achieve $3.58. If the stock price breaks the $2.33 level, then it can achieve the level of $1.89.
Technical Levels
- Resistance Levels: $3.33 and $3.58
- Support Levels: $2.33 and $1.89
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.