A buying opportunity in uranium stocks has emerged as volatility in the space increases, charts show

Uranium stocks outperformed the broader equity market in 2023, with the Global X Uranium ETF gaining nearly 38% for the year. However, the segment has been more volatile in 2024, noting a corrective phase in February resulted in an 18% drawdown for URA. The choppy price action of late in URA has resulted in an intermediate-term trading range, which now gives the chart the look of a bullish cup-and-handle pattern.

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