“I recently recommended shares in Boss Energy (BOE), a uranium miner,” Michael said.

“Uranium supply can’t meet current demand, let alone growing demand, so prices will need to rise substantially to encourage new supply.

“We are now seeing some movement in this sector.

“For those who prefer the added diversity of an ETF, then URNM is one to consider.

“From a charting perspective, it is also starting to make a move here and therefore present investors with a buying opportunity.

“After peaking in February 2024, URNM entered a corrective decline.

“Recent price action has seen it break higher (circled) on strong volumes.

“This breakout is a buying opportunity, and we expect URNM to rally higher from here. “Because the correction had taken so long, we expect the rally to last a number of months and eventually take this ETF to new highs,” Michael said.

Uranium ETF (URNM)