Elliott in Cycle 1 to $26
Updated
My preferred count for Cameco is that we are currently in Cycle 1 that may go on for some months yet. Within Cycle 1 we have completed an Intermediate Wave 1 in Jan 2017, and Intermediate Wave 2 in October 2017.
We are now in Intermediate Wave 3, and are completing a minor Wave3 right now. We then need to complete 4 and then 5 to complete higher degree Intermediate Wave 3.
Once Intermediate Wave 5 is actually complete sometime next year, we can expect a larger degree correction that would complete Cycle 2. From there we will embark on Cycle 3.
Note
Not enough of the structure unfolded to allow Wave Minor Wave 3 to reach sufficient highs to allow Wave 4 to remain above the price high of Minor Wave 1. Therefore, Im considering that we the unfolding wave up was the completion of a lesser degree Wave 1 only and we are still inside a Wave 3 impulse wave up. Within Minor Wave 3 we are also in a larger degree Intermediate Wave 3 within a higher degree Primary Cycle Wave 3.
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