Bannerman energy (BMN) is a small uranium company whose flagship uranium project is based in Namibia. The country has a long history of uranium production and infrastructure serving other companies, such as Paladin Energy. BMN’s project is one of the world’s largest undeveloped uranium assets.

“I have previously talked up Paladin Energy as a buying opportunity on the back of a renewed focus on nuclear energy,” Michael said.

“This demand for nuclear comes at a time where there is a major supply deficit.

“For these reasons, there is a great chance that BMN shares see increased levels of buying this year.

“I have looked at BMN a few times since June, noting a number of breakouts and buying opportunities along the way.

“Recent price action is significant enough to give us another buying opportunity.

“There is major support near $3, which was formed by the intersection of the uptrend line and the scene of the January breakout.

“Last Thursday, BMN broke under this major support level.

“However, it quickly recovered on Friday, on high volumes.

“It then followed through on Monday (see circled area in chart below).

“This means that the break down last Thursday was a failed break and should now lead to a strong move higher.

“Current levels are a buying opportunity.

“We expect BMN to push to new highs for the year,” Michael said.

“HOT” stock: Bannerman energy (BMN)

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