Boss Energy is an Australian uranium producer.

“It doesn’t matter that we don’t have nuclear reactors in Australia, because there is a large amount of demand for uranium from overseas, and this demand is increasing,” Michael said. “Uranium supply can’t meet this demand so prices will need to rise substantially to encourage new supply, which will take time.

“Because of this, uranium miners like BOE should do very well until that supply comes online.

“The charts are also indicating that the stock has bottomed out and is ready to head higher.

“There has been a large amount of bullish divergence since September.

“This is where the weekly RSI (a momentum indicator on the bottom chart) bottomed in September and trended higher, while the BOE share price trended lower (see the diagonal blue lines).

“BOE then formed a bullish reversal in April (circled in the chart) on strong volume.

“That bounce off the lows then saw it break above a major resistance level (look at the horizontal blue line).

“All this means that there is a strong chance that BOE has formed a low and the share price should rally to a new high over the next year,” Michael said.

CHART PROVIDED OF Boss Energy (BOE)