Consolidated Pacific Bay Minerals Ltd. (V-CBP)
Commodities / Uranium Oct 24, 2007 - 11:52 AMBy: Merv_Burak
looks like one of those stocks. It has not yet made its move but seems poised to do so. First, looking at a P&F chart CBP seems to have bottomed out and has been setting up a consolidation pattern with a resistance just below the $0.28 price. A move to $0.28 would be the P&F break-out with an initial projection to $0.48. On a bar or candlestick chart we have the price trading above its intermediate term moving average line and the line has turned oh so gently upwards. Intermediate term momentum has also just inched into the positive zone and pointing higher. The Volume indicator has also started to turn but one would like to see increased daily volume activity on the up side.
All in all an interesting stock to keep an eye on, especially should it traded at or above the $0.28 mark.
By Merv Burak, CMT
Hudson Aero/Systems Inc.
Technical Information Group
for Technically Uranium with Merv
Web: http://techuranium.blogspot.com/
e-mail: merv@themarkettraders.com
During the day Merv practices his engineering profession as a Consulting Aerospace Engineer. Once the sun goes down and night descends upon the earth Merv dons his other hat as a Chartered Market Technician ( CMT ) and tries to decipher what's going on in the securities markets. As an underground surveyor in the gold mines of Canada 's Northwest Territories in his youth, Merv has a soft spot for the gold industry and has developed several Gold Indices reflecting different aspects of the industry. As a basically lazy individual Merv's driving focus is to KEEP IT SIMPLE .
This Blog is - A periodic review of the daily or weekly market action in uranium stocks. The review is strictly from the technical perspective. Merv is a pure market technician. Weekly, one will find a table of technical information and ratings of the 50 component stocks of the Merv's Uranium Index as well as a weekly summary of the uranium stock activity. Daily (most days), one will find a daily review of the market action of the Merv's Daily Uranium Index as well as technical analysis of one or more uranium stocks of interest.
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