I can see URRE going to 1.40 and maybe even to 1.65 over the short term. Although it could go to 2.00, any pps above that will only occur in dreams. But I surely wouldn't complain if it did.
The projection is purely technical. What you do is measure the distance from the top of the head to the neckline and in the case of a head and shoulders bottom formation (that's what we have here) you project that same distance up on a logarithmic price chart to arrive at a target price. It's only a technical estimate of where the price is most likely to go from past experience with head and shoulder bottom formations. It's interesting to note that Fundamental market analysts have projected price targets of $5.00/share for URRE http://finance.yahoo.com/q/ao?s=URRE+Analyst+Opinion so, the technical estimate seems rather conservative. Here are the rules: http://stockcharts.com/school/doku.php?st=Head+and+shoulder%27s+top&id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_t
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