CCJ: Mid-Term Dip Could Present Buying Opportunities
Updated
Weakening daily RSI on Cameco Corp's stock CCJ is signaling the potential for a healthy dip over the next several months. Look at my previous post on CCJ--I think this stock has the potential to outperform the market long term due to a resurgence in uranium demand in multiple parts of the world. The highlighted red area is in a weekly overbought area that last signaled the beginning of a multi-year run. I might consider scaling in if this stock begins dipping to the 100/200 day EMA's. More posts to come as I continue to watch this stock.
Note
I believe we're starting to see this narrative play out with today's dump.
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