CCJ trade ideas
New cycle for Cameco?Bottomed out?
Possible AE, long term meme targets are the orange boxes
A break above 13 would be a nice start
CCO Bull Pennant on the Daily Time FramePrice action is up-trending on higher time frames (weekly and monthly). The pennant formation shown is consistent with price consolidation within an uptrend. Pennant upper boundary has been touched twice (and almost a third time at the tip of the flagpole) and the lower boundary has been touched three times. The MACD is showing consolidation and is waiting for the breakout direction.
Flagpole spans $3.30. A similar price increase, if the pattern breaks to the upside, is possible. This increase should be measured from the lower pennant boundary. Entry at this point is risky as the pattern may break to the downside. A more cautious entry would require waiting for price action to break and close above the upper pennant boundary, with a retest of the upper boundary now serving as support. An Aggressive exit would take place at a price roughly $3.30 higher than the lower boundary of the pennant on the move that breaks to the upside, with more conservative exits anywhere in between.
This is not trading advice, but instead serves as a prediction of future price movements.
Cemeco longEasy read.
With the rise in popularity of Uranium, Nuclear Power and MSR coming in 2020/2021 I see Cemeco doing very well.
ccjI have purchased some CCJ. I really like this as a long term hold because I am impressed with their results given the uranium market tanking.
$CCJ vs $SPY monthlyCameco $CCJ structural trend change. Uranium stocks look set to outperform the market.
Cameco Corp - Bull trap being sprung?Lots of chatter about Uranium being at the start of a new bull market but this count would suggest that there may in fact be another leg down. I reckon that at the moment we could be seeing the final up leg of a 4th wave correction in a C wave to be followed by a 5th wave down to new lows.
Cameco Corp - Bull trap being sprung?Plenty of chatter about the possibility of Uranium and related stocks starting to climb after years in a bear market. Trying to work out this long term correction was all but impossible for me and I'm not that convinced by my count. However this count suggests that the bear market is not over and reckon that the present uptrend may be just a 4th wave correction working its way out. I still think that there may be one more decent leg down to follow in a final 5th wave of a C wave. In the short term though I see some upside as this 4th wave correction plays itself out.
Cameco long term play $CCORecently Cameco touched 50MA.
Cameco has to close and remain above its 50 day moving average (blue line) to consider trend change.
Cameco could go to $21 (0.23 fib line) in 9 months and $29 (0.38 fib line) in months 10-12 WHEN cycle ends, which could be Q2-3 2019 or right now Q4 2018.
DXY and Libor not done rising yet until Federal Reserse stops raising rates in 2019.
Cameco is a buy at $10 or otherwise $5 if doesn't hold above $10 resistance.
CCJ - Cameco Corp. Mining - domestically sourced energy sourceNYSE:CCJ
Recent changes to using domestic sources of Ur (Uranium symbol) for nuclear power.
Cameco Corp. is also at an extreme low due to the 2011 psunami that hit Japan that
had back-up power failure causing a melt down and Japan shuttering 32 Nuclear
Power Plants until they had full double fault protection to prevent such from ever
occuring again. They are now getting ready to start back up, which will drive up the
prices of Ur futures (UX) and thus profits for domestic suppliers, as no new power
plants are being built these days. CCJ pricing in near break-out of 9.75-9.81 resistance
level.
View the 1w, 1d, 1h, 1m chart and look for pricing to go past 9.80-9.81 range for entry
upward and simply know prices are going up. Lower Fib retracement is 9.50 which it
quickly bounced off today. Below this 9.13 is the low and not likely with current
dynamics.
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.
Still negative short term CamecoLooking for the RSI Line to break the downward tren while the share price gets back over the 30 MA.
Long term bullish,, short term it as probably got ahead of itself but not by much.
CamecoBuying at below $10, small positions to begin with. from a macro point of view Trump will support the US nuclear industry by making harder for countries like Kazakhstan to import. 20% of the USA energy is generated by nuclear. Productionn as been locked in.. the uranium price as risen from 20-26 in 2018. In 4-5 years you will look at the price and think why wasnt i loading up then
More Bullish Wave count emergingNot enough structure unfolded to allow a valid five wave count up to Complete Wave 3. My supposition is that we are still within Wave 3 of Intermediate Cycle 3 of Primary Cycle 3, which allows for more bullish action to commence shortly and carry us into 2019.
Elliott in Cycle 1 to $26
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.
Cameco Looks Ready For A Breakout.CCJ looks prone to a volatility spike to the upside. It could finish the year closing in on the multi year downtrend resistance level.
Inverse HnS w/ supporting volumeDaily shows inverse HnS reversal. Wait for backtest to enter and get long!
