Whether or not you think the corp formerly known as USEC is going to go bankrupt again, I've decided to help pour some copium on the wounds of traders and investors who've been tightly clutching diamonds in their hands during this whole ordeal. Yes the stock plummeted because it was overextended and there's low float, but also yes the CEO has been selling a ton of his shares and inspired widespread FUD with his comments in the earnings report. Regardless of how we got here, it's where we'll stay for the time being (and by that I mean stuck below $40 resistence).
If you do a Fib extension and map out some basic resistences and supports, it's clear that there are many different levels and trendlines that the price will need to wade through in the future. This was a very weak bounce that appears to be forming a bear pennant; but if the price levels hold firm and the U Thesis holds true for the rest of spring, I can see $LEU's price doubling to the top of a megaphone pattern. Trade wisely, my friends.
If you do a Fib extension and map out some basic resistences and supports, it's clear that there are many different levels and trendlines that the price will need to wade through in the future. This was a very weak bounce that appears to be forming a bear pennant; but if the price levels hold firm and the U Thesis holds true for the rest of spring, I can see $LEU's price doubling to the top of a megaphone pattern. Trade wisely, my friends.