Uranium Energy Corp gains 5% in pre-market as US prepares Russian uranium ban

Shares of the Uranium Energy Corp (UEC.US) gain almost 5% in pre-market trading after US senate passed a Russian uranium import ban, sending the bill to US President, Joe Biden. The market expects that tighter uranium supply may drive prices higher, favoring Western companies as the strategic commodity suppliers.

UEC.US (D1)

UEC shares stopped declines at SMA 50 support zone, near 6.8 USD per share and today market move may send it above 23.6 Fibonacci retracement of the upward wave from the spring of 2023.

Source: xStation5

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