Today, I want to show you the chart on uranium.
I’m seeing a tailwind trend right now that’s likely to have some legs to it long term.
A tailwind trend signifies a circumstance or condition that contributes to the enhancement of growth prospects. For example, when gasoline prices decrease, it can bolster the profitability of a delivery company. This reduction in fuel costs is commonly referred to as a beneficial tailwind for the freight services sector.
You might think this is one of those trades that are difficult to time in terms of the day or week, but it’s something that we like to be allocating to.
In this case, you have to ask yourself what is uranium? A metal used as a fuel source within nuclear reactors.
So an ETF we can use to trade this is Global X Uranium ETF (URA).
And things are looking bullish for it…
In today’s 2-minute video, I show you the chart of URA and analyze its future tradability as worldwide demand for nuclear energy only increases.
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Source: Investors Alley