Silex Systems (SLX) is an Australian company that has a unique laser-based enrichment technology. One of the main uses of this technology is to enrich uranium for nuclear power plants.
“This is an area that’s seeing increased demand, especially in light of US sanctions against Russian uranium, where the US Department of Energy is trying to boost its domestic nuclear fuel supply chain,” Michael said.
“The uptrend from mid-2024 saw the share price stop short just under the May high, finding resistance around $6.20-$6.30.
“We can see that it has tested this area on a number of occasions.
“Despite the dip in December, it remains up at these levels.
“All this is a positive as the more SLX tests resistance, the more it weakens it.
“SLX is therefore setting itself up for another decent move higher.
“A break above this resistance zone could lead to a rally into the mid $7,” Michael said.
Silex Systems (SLX)
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