RTNTF - Uranium Stock Set To Reverse to the Upside Expert Says | Benzinga
Source: Clive Maund 06/11/2024
Technical Analyst Clive Maund shares his thoughts on Tisdale Clean Energy Corp. to explain why he believes it is a Strong Buy.
Tisdale Clean Energy Corp. (OTC: TCEFF) is looking for uranium in the prolific Athabasca Basin in Saskatchewen.
This is a place that hosts a range of significant deposits with the company's South Falcon East flagship property located.
This is shown on the following slide from the company's latest investor deck at the southeast of the basin.
The next slide shows that there are big uranium companies active in the area, such as Cameco Corp. (NYSE: CCJ), Denison Mines Corp. (AMEX:DNN), and NexGen Energy Ltd. (NYSE: NXE), and they would not be there without good reason, so the chances of making a significant discovery are high.
This next slide shows the company's South Falcon East property in more detail, and on it, we can see the proximity of big players like Cameco and Rio Tinto Plc (OTC: RTNTF).
Note that drilling and exploration will be ongoing as the year unfolds. To learn more about the geology of the property, visit the company's latest investor deck.
Turning now to the latest stock charts we see that although Tisdale Clean Energy has put in a disappointing performance since we looked at it in January, at this point it continues to show signs that it is set to reverse to the upside soon.
On its latest 2-year plus chart, we can see that the downtrend in the stock from the Spring of last year shows marked convergence, which means that it is a bullish Falling Wedge. The reason that such a pattern is bullish is that it shows a diminution of downside momentum such as frequently precedes a reversal to ...