Uranium stocks outperformed the broader equity market in 2023, with the Global X Uranium ETF (URA) gaining nearly 38% for the year.
We think the recent volatility in uranium stocks presents an opportunity to take advantage of their cyclical uptrend.
This applies to the Sprott Uranium Miners ETF (URNM) as well, which completed a basing phase (i.e., the "cup") last November that we featured on X .
A breakout above $31.30 would complete URA's cup-and-handle pattern in a long-term bullish development, supporting its cyclical and secular uptrend.
URA is the largest uranium ETF, with $3.2 billion in assets, and it has a reasonable expense ratio (0.69%).
Persons:
URA, Cameco
Organizations:
Uranium, Uranium Miners
Locations:
URA