Chris,
After reflection I was wrong to recommend buying on the breakout yesterday (Friday, 4/12). Looking back at the past year I noticed that CCJ typically will retrace on a new high. A 61.8 fib retracement brings the stock back to the previous breakout and a gap which where I like to be a buyer on a bounce.
Joe pointed out "The premium for Put CCJ 40...
Cameco Corp Inverse Head & Shoulder Seen and soon in Blue Sky Territory.
This is a fairly rare Pattern IMO.
In this Chart I've switched to the line view to reveal the pattern and remove candle clutter.
A good trick to use on longer time frames.
The Energy Sector is gaining due to the realisation that the World NEEDS MORE.
Past speculation about Nuclear has now...
Play on Uranium. Leader in that space with solid revenue and earnings per share.
Bounced strongly after testing its 200 MA and now building a cup base.
Few days drifting lower will set this up very well.
CCJ Potential Breakout Analysis
Cameco Corporation ( NYSE:CCJ ) is currently showing signs of a potential breakout back into Stage 2.
Breakout Confirmation
The stock price of Cameco ( NYSE:CCJ ) is approaching a critical resistance level.
The trading volume is increasing, indicating growing investor interest.
Key technical indicators suggest a bullish...
CCJ has been on a nice up trend since 11/2020. Looking at the the monthly it has only closed below the monthly 10 EMA four times in the last thirty months.
The daily dropped into daily demand and bounced nicely off of the 200 SMA which has been respected for the past year.
I bought just above yesterday's high. I bought Jan 40 calls and sold April 47 calls. ...
As a sector, uranium mining has been in a strong uptrend throughout 2023 with a peak in early 2024.
Pullback currently underway, based on Uranium U308 (UX1!) spot price softness since January 2024.
Geopolitical and operational factors to be considered: (a) Nuclear energy facilities in Europe and USA are reliant to a large degree on fuel sourced from Russia and...
Cameco is approaching 2007 highs. Will we see a correction to $32 or will it hit $56 immediately?
I would like to remind you that the sentiment on the uranium market is getting better.
This is a continuation of my post on February 25.
The price is now in a REC i.e. the price fluctuates between two lines that are not parallel. It's an expression of indecision – investors can't figure out whether to go up or down.
There was a false break-up on May 7. At the time of break one could get the suspicion that the break would be false as there was no...
CCJ leader of uranium.
CCJ has been developing a text book Livermore Accumulation Cylinder. In the last uranium bull market CCJ developed this accumulation cylinder over 4 years from 2000-2004 and now its doing the same accumulation cylinder from 2020-2024.
We are in the final flush out stage 7 before an explosive wave 8 up.
The chart on the right shows...
Below is a zoom in on the actual #Cameco trade w/ entry & exits for our members.
In hindsight, we exited at the top, but that isn't important.
What is important was respecting our trading framework.
When #uranium gives us its next low risk, high reward entry, we will play it.
Daily defined run for #Cameco has ended almost one month ago.
You had an opportunity to exit in strength a month before that.
We are now in a correction which can be achieved with time and/or price.
#uranium #stocks AMEX:URA #trading NYSE:CCJ TSX:CCO
Cameco has descended through the floor in a rising trend and the price is approaching the SMA200. There are breaks down from a small double top and large double top. The small formation is supported well by volume, and the large one is to some extent supported by volume.
Price momentum indicators incl. RSI have a weak trend and stand in the short term on sell....
I'm long on CCJ since the break of 32.53 and will continue to ride the trend for now. I'm on double size relative to my usual positions and remain that way unless the 89 day SMA hold the trend and reduce it to normal size if it broken. The main trend I follow is the orange one.
I expect nuclear energy to grow significantly over the next ten years. Because of that...
I'm looking for a rise from current levels as long as price stays above 40.55$ which is my Stop .
Very little risk with a profit potential of 3R if not more.
Price has reached an important macro resistance zone: 39.40-45.91-48, that coincides with 0.618% extension of wave I (2000 low - 2007 top time span) from wave II bottom (2020 lows).
Monthly view
This 0.618% extension aligns with standard 2.00% resistance of the fifth wave - wave (5) - of first impulsive structure (wave (1)-(5)) that started in March 2020. ...
CCJ
50 now. am long term bull on CCJ, keep in mind that higher Uranium prices will bring more supply to the market place. I see a lot of new bulls chase it here at 50 but I think it may want to first fill some gaps near 42-45.
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Stay Frosty!
