Chart of the Day - Friday, January 12, 2024

🏆 Today’s Chart of the Day was shared by Theodore Hicks (@t2hicks).

• The Global X Uranium ETF ($URA) jumped +7.11% today, closing at its highest level in nearly a decade. This was its best week in over two years, surging +16.77%.

• $URA has completed a two-year base after clearing resistance at $30 today. Theodore points out that the breakout occurred on unusually high volume this week, suggesting institutional buying.

• The top stocks in $URA include $CCJ, $UUN, $NXE, $KAP, and $UEC.
  
  The takeaway: The Uranium ETF ($URA) surged +16.77% this week on unusually high volume. The stage has been set for a new leg higher after completing a two-year base today.