United

April

Security

Rise

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Encore energy stock price closed at $2.51 with a gain of 1.62% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>EU stock has surged above 20, 50,100, and the 200-day exponential moving average.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Encore Energy is 7.73%.</a> </li> 
</ul> 
<p>Encore energy stock price has been in an uptrend since the end of April 2023, forming higher lows, rising from the support level of $1.80. During the start of June 2023, EU stock gained strong bullish momentum and rallied approximately 41% to form a high of $2.84.&nbsp;</p> 
<p>The stock faced heavy rejection above the $2.80 level which ignited bearish momentum. EU stock price fell and formed support near $2.20. It again commenced a bullish rally which to retest the high of $2.80 but the move was halted as the price faced rejection from the $2.55 level.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/fwDWAXDpqEjXNTYtaGM6P9lN3v0KTe7wA-Y_pUg5C3CeHdPdR7gOzh3hq3CzTo1xAMPFzAvrICaI9VD1cDndZYRph1vp0h-HegH2RO5lMbK5b9oewxclCcFKUlwe3jshDdxTOtabPFoT2O7BgE2z8A" alt="enCore Energy (EU Stock): Will EU Stock Rise Above $3 in 2023?"> 
  <figcaption class="wp-element-caption">
    Source: EU Stock Price By <a href="https://www.tradingview.com/x/hyBo6juZ/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>Recently, the price formed support at $2.35 and regained momentum to retest the $2.55. The last candle closed as a bullish candle. If the next candle can break the high of the next candle, then the price might head toward $2.55 and potentially break it to head toward $2.80.&nbsp;</p> 
<p>On the other hand, if bears take control and push the price below the recent support level of $2.35, it might melt to the next support level of $2.20.</p> 
<h2 class="wp-block-heading" id="strong-encore-energy-to-increase-uranium-production-strong"><strong>Encore Energy To Increase Uranium Production</strong></h2> 
<p>In July 2023, the US Senate passed the Bipartisan Nuclear Security Act, 96-3, which will be included in the National Defense Authorization Act of fiscal year 2023.&nbsp;</p> 
<p>The Nuclear Fuel Security Act of 2023 establishes a nuclear fuel security program to escalate domestic production and guarantee the availability of domestically produced, converted, and enriched uranium. The initiative is launched to stop the dependency of the <a href="https://www.thecoinrepublic.com/2023/08/08/united-states-steel-corp-x-stock-gains-slide-below-25/" target="_blank" rel="noopener noreferrer nofollow">United States</a> on foreign sources of Uranium.</p> 
<h3 class="wp-block-heading" id="strong-will-eu-stock-price-rise-to-2-80-level-strong"><strong>Will EU Stock Price Rise to $2.80 Level?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/ni__b2tAl6IV6dN0yrh3QbRkqeNVrhHeMelRr39OHkCyJbLGM21bxOQ2FAmLcoWie0iuRQYEW8FauXcBk7vrbrqDTqqRHU8jU43tRpS3EnC7MyDJpc_Dh8sAg5PTM7pIyJAoH40-ORdGlzAtItGldQ" alt="enCore Energy (EU Stock): Will EU Stock Rise Above $3 in 2023?"> 
  <figcaption class="wp-element-caption">
    Source: EU Stock Price By <a href="https://www.tradingview.com/x/VL3kyl9J/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The stock price has positively crossed 20,50,100 and 200-day exponential moving averages, indicating bullish momentum. Chaikin money flow (CMF) score has hiked to 0.36 suggesting strong bullish strength and an increase in capital inflow in the price. CMF has been trading above the 0 mark since the start of August.&nbsp;</p> 
<p>The relative strength index has also climbed above the 50 neutral mark and stands at 57.48, implying bullish momentum in the price. The Bollinger bands have contracted indicating a decrease in volatility. EU stock price soon rises above the upper band of Bollinger which indicates the possibility of a short-term pullback.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The market structure and price action of Encore Energy stock are bullish and the price is headed toward a minor resistance of $2.55.&nbsp;</p> 
<p>Technical parameters indicate the possibility of a breakout above $2.55 as the price is slowly gaining bullish momentum. If the breakout happens, the price might head toward the next resistance level of $2.80.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Major support: $2.35 and $2.20&nbsp;</li> 
 <li>Major resistance: $2.55 and $2.80</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

enCore Energy (EU Stock): Will EU Stock Rise Above $3 in 2023?

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