Westwater Resources Inc. stock trades under the ticker WWR & has recently displayed technical strength, making it worth examining for trade opportunities.
WWR stock does not have options, but is a member of the NASDAQ, so while you have to buy the shares long, you can hedge against the position by using an inverse-NASDAQ Index ETF/ETN, or by buying options for or against the NASDAQ products.
An example, buying the SQQQ ETF, and or calls in it could be a means of hedging against the long WWR trade.
WWR Price: $11.80
10 Day Moving-Average: $2.84
50 Day Moving-Average: $2.19
200 Day Moving-Average: $1.96
RSI: 94
While WWR’s RSI is high at 94, showing signs of being very overbought, after such a strong takeoff that is to be expected, and will go down to a more normal level as it establishes its new range.
WWR shows potential for being a good short-to-medium term trade.
*** I DO NOT OWN SHARES OF WWR STOCK ***