The rally by uranium has surprised even the biggest bulls like MM; some consolidation now feels overdue, which is likely to take some froth off of the bullish sector.
- We think uranium is likely to consolidate the recent gains over the coming months, i.e. buy dips as opposed to chase strength at current levels.
MM is neutral uranium after its explosive rally
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ASX uranium stock Boss Energy (BOE) hit our $5 target area last week as the underlying commodity surged higher; after following the MM roadmap perfectly, we have now switched from bullish to neutral.
MM is neutral toward BOE
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