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Cameco Corporation (US)Cameco Corporation (US)Cameco Corporation (US)

Cameco Corporation (US)

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Cameco May Be OversoldUranium miner Cameco ran to new highs in August and September as prices increased for the nuclear fuel. Now, after a pullback, some dip buyers may get active. The first pattern on today’s chart is the $35.16 level where CCJ closed at the end of July. It continued to serve as resistance in the first half of August, but then became support after prices broke out on August 21. Yesterday the stock bottomed $0.02 above the same level. Second, the drop dragged stochastics into oversold territory. Third, CCJ is trying to stabilize near its 50-day simple moving average. That may suggest its intermediate-term uptrend remains in effect. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:CCJ
by TradeStation
1
Cameco, reference for uranium investingCameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles and assemblies, and zirconium-based reactor components for CANDU reactors. The company offers nuclear fuel processing services. It sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada. Positive: Holds more cash than debt on its balance sheet Consistently increasing earnings per share Net income is expected to grow this year Stock generally trades with low price volatility Has maintained dividend payments for 32 consecutive years Strong return over the last three months Profitable over the last twelve months Negative: Trading at a high earnings multiple
NYSE:CCJ
by SANMARTIN_M
CCJ : BASE 0 DURATION / POSITION TRADECameco (NYSE:CCJ) released a strong print ahead of market open, and followed up with a strong call, as the market leader points towards a narrowing supply/demand gap and increased willingness for utilities to contract at higher prices: CATALYSTS : McArthur River - CEO Gitzel indicated that there's no change to the Company's strategy of pre-selling future production; there's a home for the additional supply from McArthur's restart, and they will not be growing production to build inventory or sell into an oversupplied spot market. Contracting - the company added 40m lbs to the contract book in the first month of 2022, as the fundamental backdrop for demand improved; additionally, the pandemic and depletion in Kazakhstan has brought security of supply challenges for customers; "contracting begets contracting" and Cameco expects continued opportunities to lock in favorable, long-term contracts throughout 2022. Sprott - The emergence of a "financial market" buyer in late 2021, namely Sprott (OTCPK:SRUUF) soaked up a lot of spot-market supply and pushed up spot prices; however, spot buying also removed customer complacency and pushed longer-term contract prices higher. Kazakhstan - both trade policy concerns and instability in Kazakhstan have focused buyers on the origin of supply and helped Cameco take market share. Having struggled with an oversupplied market since Fukushima, it appears the uranium market is finally coming around for low-cost, long-lived producers in secure jurisdictions, like Cameco. With favorable policy likely to come out of the European Taxonomy proposals, the sector (NYSEARCA:URA) appears well positioned for a strong 2022. SOURCE: CCJ after the call -- after a decade, the market looks to be turning, shares up ~15%, Nathan Allen, Seeking Alpha, Feb. 09, 2022 seekingalpha.com Uranium: Potential Trade Of The Decade, Gain Exposure With SRUUF, URNM, Live Hard Investing, Seeking Alpha, Feb. 10, 2022 seekingalpha.com
NYSE:CCJLong
by TradingMavericks
CCJ: Ascending Triangle, Not confirmed (70.19%)(4/1000)(4/1000) Ascending Triangle for CCJ. Not Confirmed yet. Pros: 1- Bullish Ascending triangle 2- Descending volume during formation 3- PPS above 50MA and 200MA 4- RS above 0 but barely 5- R/R ratio above 5 6- 250RSI above 50 and ascending 7- 50MA above 200MA 8- 50 MA and 200MA ascending. 9- Golden star circled in blue Cons: 1- ATR is descending/flat, less volatile 2- Triangle not confirmed yet Target price is 54,12$. Again, stay humble, have fun, make money! MAAX!
NYSE:CCJLong
by LeLaf
Cameco Testing Upper Triangle Line Cameco Stock Price Analysis - Triangle Pattern Breakout and Potential Price Support Weekly Chart Breakout: Cameco ( NYSE:CCJ ) has made a significant move on the weekly chart timeframe with a breakout from a triangle pattern. This bullish pattern breakout suggests the potential for sustained upward momentum in the stock's price. Price Pullback: Following the breakout, Cameco's stock price has retraced back to the upper line of the triangle pattern, which now acts as a crucial support level. Traders and investors will closely watch this area as it may provide a strong foundation for the stock's next move. RSI Analysis: Assessing short-term momentum, the Relative Strength Index (RSI) indicator provides valuable insights. Currently, the RSI for Cameco appears to be in a neutral zone, suggesting a balanced market sentiment. Traders will monitor for any potential divergences or significant shifts in RSI to gauge potential price movements. PPO Indicator: Furthermore, the Percentage Price Oscillator (PPO) serves as a valuable tool in short-term analysis. A positive PPO indicates upward momentum, while a negative PPO suggests potential downward pressure. Traders will observe for convergences or divergences in the PPO, as it may signal changes in the stock's direction. Keep an Eye On: As Cameco's stock price retraces to the upper line of the triangle pattern on the weekly chart, traders and investors will pay close attention to price action for confirmation of support. A bounce from this level could validate the breakout and potentially lead to further upward movement. However, market dynamics can shift rapidly, so caution and ongoing analysis are essential. Technical analysis provides insights but is not definitive. It's crucial to consider other factors, including fundamental analysis and broader market conditions. Always conduct your own research and seek professional advice before making investment decisions.
NYSE:CCJLong
by PrepForProfit
2
Will the backtest hold?Cameco broke out from large triangle pattern in June. This breakout followed a large consolidation for over a year, after the first major leg up from 2020 lows. If the backtest of triangle holds, CCJ and Uranium sector could be setting up for next major leg of new bull market in Uranium. The technical uptrend is backed by strong sector fundamentals given supply/demand imbalances (exacerbated by geopolitical tensions), financial players (e.g. Sprott) supporting Uranium sport price and overall change in public sentiment towards Nuclear. A weakening US dollar would also help the commodity trade more broadly, including Uranium as well as the Metals. URNJ (junior miners) could be a great way to play the sector if next leg up materializes.
NYSE:CCJLong
by pdiddy7
Cameco CorpLets dive into another stock of the long term investments and position trading portfolio. This time one out of the uranium basket as the uranium renaissance is in full swing. Currently holding 2 positions, which combined has an average price of around $23 (red circles) and looking to add Cameco is the second largest uranium mining company in the world and owns the largest high grade uranium mine, which is temporary closed atm. There can be enough said about the uranium sector and the potential fundamentals. From a value standpoint, this stock might be overvalued. Has a P/E of 100 against an EPS of 0.30. But we are not on Buffetview, but on tradingview. Stock markets tend to overshoot, specially in the commodities and tech sectors. So once the hype train start running again, their might be some value find in this giant miner. So far this year CJJ has been outperforming any other N. American uranium mining company, at least all the ones in my basket. If you look at the chart, you can clearly see CJJ has been on the run, broke out of the compression and took out several highs. An ideal setup would be a correction back to the upper line of the compression pattern. I would add there to the position and might consider adding leveraged cfd positions. Price target $38
NYSE:CCJLong
by GoldvalleyCap
Cameco... Still GoingCameco continues to gain in price as spot uranium moves higher. We are seeing textbook breakout out of a triangle pattern with Cameco on pace for its highest monthly close since February of 2011. Lower PPO indicator is in the process of a bullish cross of the green PPO line above its purple signal line. Both of these lines trending above the 0 level indicates that the overall momentum behind price is bullish, and with the bullish cross of the two lines it means that the short-term momentum is shifting back to positive as well. Lower TDI indicator shows the green RSI line back in the upper half of the Bolling Bands which indicates a shift back to positive price trend. The green RSI above 60 indicates that the bullish trend is increasing, and as long as the green RSI continues to trend between the 40-80 levels going forward the longer trend behind price will be considered bullish. This is from the Cardwell RSI strategy which is one of the best methods for reading the RSI if you aren't already a fan of the Cardwell RSI. Cardwell RSI: youtu.be The nuclear movement has a fan in Oliver Stone who recently created and released a documentary about the need for nuclear power: www.nuclearnowfilm.com
NYSE:CCJLong
by PrepForProfit
Cameco May Be Attempting a BreakoutUranium miner Cameco rallied on June 1 as U.S. Senators advanced a nuclear-energy bill. Now, after a pause, some traders may see the potential for continuation higher. The first pattern on today’s chart is the sharp rally above February’s peak of $29.73. CCJ probed $0.01 below that level on Wednesday before rebounding. Has old resistance become new support? Next, prices have remained above the 8-day exponential moving average (EMA) and MACD is rising. Those signals may indicate short-term direction is pointing higher. Third, the stock climbed after results beat estimates on February 9 and April 28. Finally, the most recent advance comes after CCJ held its 200-day SMA. That may suggest it’s ready to resume its longer-term uptrend following almost two years of consolidation. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:CCJ
by TradeStation