My technical take on UEX...
Monthly chart shows currently in a potential bull flag pattern for the past 5 months. This bull flag has traced the MOBO resistance for that time. Looks like the bull flag could be about to breakout, which would break MOBO too. Would need a close above monthly MOBO to confirm we're back in a long-term bullish environment. The monthly 20sma (now at 1.90 CAD) served as support on pullbacks during the 03-07 upleg and is a potential target on a breakout, just something to have in mind.
Weekly chart shows the bull flag may have broken out last month, with the recent lows being a retest of the broken trendline. Price formed a double bottom at $1 CAD, and supported at the weekly 50sma, just prior to the possible breakout.
On the daily chart I see a succession of lower highs after the May 1 top. The double bottom really jumps out at me here, right at the very important 200sma, so a failed new low in early Sep. But the rally off of that low stalled out at the July high of 1.38, so the FNL has not been confirmed yet. So for now we're stuck in this 1.00-1.38 channel.... but I think it's headed up. The Sep high was a momentum high, and price spent the last week putting in a bottom in the 1.10 area, again finding support just above the now clearly upward-sloping 200sma, so it seems a retest of the 1.38 high is in the cards.
On the hourly... not much to say there. Sideways chop going nowhere as we put in the bottom, numerous high volume up candles over the past month seem to indicate accumulation (??), nothing there to say it won't go higher.
Full disclosure: I own UEXCF at 1.12, 1.17, and 0.98.
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