8th Feb 2024. 9.54am

Regency View:

TAKE PROFITS Yellow Cake (YCA)

Regency View:

TAKE PROFITS Yellow Cake (YCA)

Close Yellow Cake (YCA) at 730p

We’ve seen a significant rally in our physical Uranium holding, Yellow Cake during the last four months.

Recently, uranium prices surged to a 16-year high of $106 per pound due to supply concerns. Kazakhstan’s Kazatomprom, the world’s largest uranium miner, announced a production cut for 2024 citing a shortage of sulfuric acid, essential for extracting uranium from ores.

However, whilst Yellow Cake’s uptrend has been very strong, recent price action has formed a small double top – indicating that we may see a deep retracement. With our position in a triple-digit profit, we are happy to take profits and wait for a pullback,

Profit = +120%

YCA Daily Candle Chart

YCA Daily Candle Chart

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