Lemaitre explains how its substantial resources in Saskatchewan's Athabasca Basin have primed UEX to move forward when uranium prices rise to meet demand.

Most uranium stocks have rallied in the past week with a spike in the uranium spot price to $42/lb. Although the long-term contract price is yet to move, it seems inevitable that it will move, perhaps to $50/lb. in coming months.

Near-term oversupply is suppressing uranium prices but there are signs of upside movement.

Björn Paffrath, Switzerland-based fund adviser and newsletter writer, says there is certainly an elevated risk of a correction in the broad market but the upside in the mining sector is worth looking at as the market turns.

The Global X Uranium fund was sold at very over bought levels into building Ukraine hysteria. Today it is bought back at a level we noted several weeks ago as a buy back opportunity in the 16′s.

I have found bowl patterns in everything from Intel’s monthly chart to Ur-Energy’s weekly and monthly charts.