$BANNERMAN ENERGY LTD(BMN.AU)$ The comeback kid! What do you think? More room to fly?

Looking at its charts, RSI indicator is still alright, however in the 3rd chart, which is URA, index for uranium, its secondary chart for RSI indicator is in an oversold position. This brings us to an interesting point. The recent revival of BMN is obviously due to the recovering spot price of uranium itself.

For BMN then, even though the RSI indicator is still humming along, I expect a healthy correction to take place. The price just couldn't keep going up. It needs a breather for the price to be healthy. Anyway, its double bottom target has long being surpassed.

If you are not in position, you can wait for the pull back before taking a position. Uranium and BMN are in a nice uptrend. Besides oil and gas, uranium is a big source of energy. The tariff trade mess started by Trump doesn't matter. The recent 90 days de-escalation between US and China also doesn't matter. 

The trade dispute will at most slow down the economy. Sooner or later, nuclear energy will come back to play, especially with more energy hungry technology such as AI and quantum computing. The world 🌎 needs ever more energy. This is not likely to change... Unless of course the world 🌍 population suddenly decreases dramatically... I don't see that happening anytime soon.

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