Hot Basic Materials Stocks: GMO, URRE, URZ

Uranerz Energy Corp. (AMEX:URZ) was up over 18% with very unusual volume after announced that it has completed its “at-the-market” financing and has raised US$20 million in gross proceeds through Haywood Securities Inc. The company now has approximately $36 million in its treasury, and there are 70,781,433 shares issued and outstanding. As a result for today’s trading session, its volume traded daily went to a 2-month high. Looking at the technical daily chart below, it seems the stock broke the strong resistance area at $3.54 and has moved decisively to the upside. That is a powerful sign that high prices are likely to continue. Long positions may be considered on price weakness, with a stop-loss at $3.04. The next resistance it could encounter is at $4.09. Once that level is breached, the next resistance could be the 52-week high at $4.13. In addition, the On Balance Volume is increasing, this clearly shows that smart money is moving into the stock again.

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General Moly, Inc. (AMEX:GMO) has made a new 52-week high of $7.18, after gaining 10% in today’s trading. The 52-week range for GMO is $2.05-$7.18. Looking at the technical chart, the short-term outlook for the stock is bullish with both 20, 50 and 200 daily moving averages going up. The MACD is positive and above the signal line, however the stochastic is now overbought at a level of 82. The next short term consolidation could provide a low risk entry point. Stay tuned!!!

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Uranium Resources, Inc. (NASDAQ:URRE) was a big winner today, as the stock closed up $0.27 on good volume. I feel that there will be a continuation move tomorrow, but I want to see it break through $3.48 and keep on going up. There are several short term technical indications suggesting that URRE could make a move to higher levels. Keep a close eye on URRE for Thursday.

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Other stocks to watch:

Qiao Xing Universal Resources, Inc. (NASDAQ:XING) – Qiao Xing Universal Resources was on fire today. The next resistance is located at $2.87.

Rambus Inc. (NASDAQ:RMBS) – Shares of Rambus are back above $20 per share. RMBS could be headed into the $25’s in 2011.

A123 Systems, Inc. (NASDAQ:AONE) – Shares of A123 System continue to be very volatile and a stock worth watching. I plan to buy AONE the next time it breaks up through $10.

Sirius XM Radio Inc. (NASDAQ:SIRI) – Shares of Sirius hit a new 52 week high on heavy volume today. Resistance is located at $1.75 and then $2.

Affymax, Inc. (NASDAQ:AFFY) – Shares of Affymax continue to be very volatile. I continue to like pullbacks under $6.40 as a trade.

Intel Corporation (NASDAQ:INTC) – Shares of Intel are starting to heat up again and are worth watching. As I have been saying in my last posts, I think this stock can trade around $21.50-$22 during the next two weeks. The stock broke its resistance and is again above its 50-day moving average.

Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.

About Antonio Costa 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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