CCJ - NYSE CCO - TSX Powering the grid Cameco Corp. Mining Uranium stock likely recovers in breakout of FIB retracements 0.5 (recent down) and 0.382 (recent up) and near 9.81 or drop below 9.50 to 8.95-9.25 resistance.
Point of interest:
* Uranium prices beaten down since 2011 Fukashima Reactor melt-down and back-up generator cooling failures from psunami hitting Japan.
* Japan shuts down all of the 32 Nuclear Reactors to assure public safety and clean-up causing global Uranium (Ur) prices to tumble to where it now is.
* Nuclear energy is still a paid for and quite reliable energy source with proper safety measures, which Japan now has and plans to restart.
* No. Amer. power also relies on nuclear power, which Pres. Trump will not import from other countries supporting demand.
* This is one of several plays, which is safe haven mid to large-cap mining stock and away from volatility (VIX) moneyballers like, as VIX up near 5% each of last 2 days.
Viewers come to own conclusions. Like, share, comment.
Uranium
$URACharting uranium is fun.
Listing around 130$ per, began to drop, respecting that best-fit line all the way down.
Ranges, ranges, dropping until we bottomed out, and have since been accumulating.
Fib extension matches perfect w/ a range I drew, RSI bouncing off support trend.
Not sure as to why we'll see 45$ again fundamentally, but the chart says it looks good.
ENERGY FUELS (UUUU) - Weekly Shaping-Up
Despite a challenging and difficult environment for Uranium, Energy Fuels (UUUU) broke-out two (2) weeks ago and is starting to show some signs of life.
While the Uranium sector as well as numerous Commodities overall have certainly lost the eyes of many an investor/trader, UUUU has caught our attention from a technical standpoint as well as having just released earnings two (2) weeks ago, which were positive.
From an intermediate and longer-term time-frame, we believe that UUUU has $5 - $5.50 potential for those swing/position investors/traders.
While we could envision a pullback to the $2.75 - $3 area, if such were to materialize, we believe that such level/s provide for a decent risk/reward entry.
URA Uranium Potential BreakoutLets keep it simple! ish..
A few things to note about uranium...
One of the most over looked assets.
Most energy efficient source.
With crypto currency mining, and other increases in electricity use, will increase demand for alternative energy. (isn't that what everyone's striving for? alternative energy?)
Look at this beautiful chart, bouncing at the bottom around 11.50 respecting it for almost 3 years now. This is massive accumulation, which is also coming to the end of its wedge and 8 year downtrend. We will see action new years.
Also the WEEKLY has squeezed and fired long, technically confirmed with the positive momentum on the last week close.
The MONTHLY around 2016 was one of the only god mode buy signals in the history of URA, at 11.30ish bottom at that time. (Not the best indication, but its there to look at)
With all the low key news about uranium, trump supporting alternative energy, and a large amount of nuclear reactors being constructed, reopened and planned for, the signs are there.
Also the supply of uranium has been reduced drastically by the suppliers, to ultimately increase price and demand. Were floating at the "cost of production" price, which cant really go lower.
Im long term on URA, this is a 3 year minimum hold for me, ill be accumulating 11 to 13 area until a breakout or stop loss right under 10.
Happy trading, its never legal advice, I want everyone to win!
URA LONG - Buy the dipsMaybe u have allready heared the good news for Uranium.
Cameco CCJ has shut down its largest mine. This accounts to 10% of global Production. Together with another cut from other companies this totals 15%!!
France was going to stop relying on nuclear power. It came back on that promise and will continue to build nuclear power facilities.
Asia has a massive buildup in nuclear power plants. Japan will soon re-open its nuclear power plants.
This is great for Supply/demand plays.
Technically this looks great aswell. After a prolonged bear market in Uranium, things are changing.
It broke its long term downward trend on 9 November.
Pulbacks should be welcomed and are buying opportunities.
Key resitence are 16 and 19.24. I used Fibonacci to calculate possible resistence levels.
Not to forget URA gives a DIVIDEND off 6 - 7%!!!!!