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CJ6 trade ideas

[Short-Term] Cameco is bouncing right now.. Pre-Recession?Good day, welcome to my analysis on GETTEX:CJ6 current standpoint from a technical view. Please be informed that this is just a short-term analysis, my long term analyses and fundamental analyses can be found here: Bullish on Cameco - Show will go on From Fibonacci retracement, we can see Cameco is bouncing around at fib 0 from November 15th indicating a possible movement of direction. A Fibonacci retracement from Nov. 19th to yesterday's high wick shows the current movement is between fib 0.2 and fib 0.6 (open to close) with today's wick (as of now) laying just above fib 0.7. Yes, these are pretty short term Fibonacci's, but considering Cameco is at its all-time high, no longer term analysis seems fitting for me. Now, here are the possibilities: Recession: Cameco may go into a short-term recession. I would put the maximum low at around fib 0.2 or the higher low / demand zone from November 20th, which would be €54 or €53 retrospectively. Uptrend: Cameco may continue its uptrend until it settles at a new All-Time High. No expected numbers from me. Update: While writing this, MT Newswire posted an article called “RBC Raises Price Target on Cameco to CA$90 From CA$75, ”. The possibility of a short-term recession is getting lower, through the uptrend Cameco had while I'm writing this. Anyway, I don't want to have such short term prognoses, therefore I will still be listing this as a neutral. I hope you've enjoyed this analysis, please read my longer term analyses on Cameco listed below. Have a pleasant day and may you never exit before the bull run begins. -- Henrik B.
GETTEX:CJ6
by henriklmao
Bullish on Cameco - Show will go onGood evening everyone, today we will be talking about Cameco, again. I still stand to my previous analyses of Cameco (Linked below), regarding its long term potential. Cameco kind of became my favourite stock to analyse now… At least one of the few ones I regularly post on. Anyway, the more well known indicators like the MACD and Bollinger Bands signal a bullish outlook , as well as some new ones I read into recently. The Lorentzian Classification and Euclidean Distance Prediction machine learning based indicators, which read into historical candle chart patterns to determine a future outlook by probability, blah blah — Don't want to get into the science behind too much, as this is beautifully described in other publications and definitely not an easy topic. I've back tested both the LC and EDP indicators (Through Replay Trading) and found especially the Lorentzian to be really valuable in this stock. The Lorentzian Classification shows a confidence of 8 , which is high, and the Euclidean shows a good near future outlook. The overall technical and analyst rating by Trading View is also a strong buy. I modified the Euclidean script a little, to predict the next two candles, so please don't worry about my chart looking so different. Yes, Cameco is scratching its all-time high right now, but I still think Cameco will surpass it by lots. They raised their 2024 production outlook and maintain strong cash flow projections, even though their Q3 EPS came in at a loss. And they recovered from their 7.6% drop on November 7th it recovered in three hours. This time, I sadly have no price predictions for you, just my current take on Cameco Don't forget to read my previous long-term analysis of GETTEX:CJ6 which still applies fully. I hope you have a wonderful day. I would kindly ask you, to share suggestions and your own thoughts in the comments. Thank you and may your levers never be knocked out! -- Henrik B.
GETTEX:CJ6Long
by henriklmao
2
CCJ cup & handle Breakout to 65 & 70+Cameco Corporation (CCJ) is currently displaying a classic cup and handle pattern, a bullish continuation signal. Here’s a breakdown of the pattern and what to watch for: Cup and Handle Breakdown: The Cup: A rounded base formed between April 2024 and October 2024, with the left and right peaks near $58.72 and a low around $46.76.This symmetrical cup formation indicates accumulation after a downtrend, with buyers gradually gaining strength. The Handle: After testing the $58.72 resistance level, the stock pulled back slightly to form a handle, consolidating around $55.66. Handles are characterized by lower highs and decreasing volume, setting the stage for a breakout. Volume: Volume has declined during the handle formation, a textbook signal of the pattern. Look for a volume spike to confirm the breakout. Breakout Level (Rim of the Cup): $58.72 Projected Target: Add the cup depth to the breakout level: $58.72 + $11.96 = $70.68 Profit Targets: First Target: $65.00 Second Target: $70.68 Bearish Contingency: If the price breaks below $55.66 , the pattern is invalidated, and CCJ may test lower levels.
NYSE:CCJLong
by EssieQuantumTrader
Huge upside after correction ahead Based on my Elliott wave analysis, we should see a correction to around $23 per share. On the flip side, I could also imagine the correction being very shallow and possibly already over, though this is not my preferred scenario. Comparing the Cameco wave count with the one of the Uranium-ETF, it becomes apparent that there is a clear divergence between the two. While the ETF has bin consolidating for a while now, Cameco has performed very well. For that reason I would wait until a clear correction has occured and possibly already enter after the (A) has finished, in case the correction is already over at that point, closing the position again once the horizon clears up to show that the correction is actually a lot deeper. All in all, a very interesting case, both technical and fundamental. China and India are both building whole cities worth of nuclear reactors, while production is barely picking up and takes years to expand due to regulation and geographic cost distribution. Long-term price aim should be around $175 give or take. Updates will follow
NYSE:CCJ
by BoutToBust
3
Cameco may grow 8.74% in the next five daysHey, welcome to another analysis of GETTEX:CJ6 by me. The focus of this analysis is solely on Short-Term growth. If you like to see my Long-Term take on the Stock, look at my previous fundamental analysis: From my last analysis, Cameco sadly missed my previous Short-Term goal by roughly 2.0%, only gaining about 8.6% after my analysis. This was due to Cameco not hitting my “Definite Buy” line, which I used as reference. If it had hit the line, Cameco would have probably risen up to more than €40.00. Now, here is my more conservative analysis of the next five bar potential. Cameco has an 8.74% growth potential in the next 5 bars (7 days) according to my analysis, to Fibonacci(0), located at the upper POI (Point of interest, in this case resistance line). This would throw the Stock at €39.135, before it will likely regress a little bit. By extending the Fibonacci from the last lower POI (in this case support) we can see that there's an optimistic potential of getting to the “Maximum Target line”, which would mean a growth of about 10% to €40.158. In terms of risk management, I would not recommend leverage above 10, as Cameco's support is set at €30.2, 16.65% down from current price, causing a total loss. I hope you liked my analysis, I would kindly ask you, to share suggestions and your own thoughts in the comments. Thank you! -- Henrik B.
GETTEX:CJ6Long
by henriklmao
2
Cameco Corp. (CJ6) is short term and long term bullish!Welcome to my first public analysis on this platform. Today, I am sharing my thoughts on GETTEX:CJ6 . In my opinion, Cameco Corp. has a bullish outlook, both long-term and short-term. When Cameco reaches the buy line at €35.174, there is a 14-day (10-bar) potential for up to 13.68%, based on Fibonacci retracement and MACD indicators. The buy line is validated by previous support levels and the Bollinger Bands, as shown in my chart. Long-term potential: Cameco's long-term potential is backed by several political and economic factors, especially in the context of global energy transitions and geopolitical developments. 1. Increased Focus on Nuclear Energy The shift towards clean energy and decarbonization efforts has increased reliance on nuclear power as a reliable, low-carbon energy source. This global shift boosts uranium demand, of which Cameco is the largest supplier globally. 2. Geopolitical Risks and Uranium Supply Ongoing political tensions and potential sanctions on Russian uranium put pressure on Western countries to diversify their supply chains. Since Russia is a key supplier of enriched uranium, potential restrictions could force Western nations to depend more heavily on Cameco, increasing long-term demand for its politically secure uranium supplies. 3. Western Energy Security Policies With growing concerns over energy security, particularly in Europe, many governments are reducing reliance on Russian resources, including uranium. Governments may provide subsidies or support to companies like Cameco, ensuring stable and allied sources of uranium. 4. Supply Chain Tightness Years of underinvestment, mine closures, and geopolitical risks have constrained the global uranium supply. As nuclear energy demand rises, supply shortages could push prices higher, benefiting Cameco as a top producer outside Russia. 5. Long-term Contracts with Utilities Cameco has secured several long-term contracts with utilities in North America, Europe, and Asia. These contracts provide stability and predictability in revenue, especially important in a volatile geopolitical landscape where energy resource security is crucial. --- Cameco Corp. is well-positioned for growth, driven by its strong foothold in the uranium market, favourable long-term contracts, and the geopolitical drive towards clean and secure energy solutions, making it an attractive long-term investment opportunity. I will personally buy Cameco somewhere around the €36.00 mark, as I am not just interested in its short-term growth. I have not yet fully decided where I will put my Stop-Loss, though. I hope you've enjoyed my Analysis and I would kindly ask you to write suggestions, corrections and or your own thoughts in the comments. -- Henrik B.
GETTEX:CJ6Long
by henriklmao
1
Cameco Corp. (CCJ) is the perfect Long-Term investment now!Hey, I just analyzed GETTEX:CJ6 and now wanted to publish my Long-term ideas on NYSE:CCJ as I think it will get more reach here than on my preferred stock exchange. If you want some details on my Short-Term analysis, feel free to check out as I don't want to adjust the numbers and the chart for a stock exchange I don't use myself. Here's my chart of GETTEX:CJ6 if you're interested: --- Cameco's long-term potential is backed by several political and economic factors, especially in the context of global energy transitions and geopolitical developments. 1. Increased Focus on Nuclear Energy The shift towards clean energy and decarbonization efforts has increased reliance on nuclear power as a reliable, low-carbon energy source. This global shift boosts uranium demand, of which Cameco is the largest supplier globally. 2. Geopolitical Risks and Uranium Supply Ongoing political tensions and potential sanctions on Russian uranium put pressure on Western countries to diversify their supply chains. Since Russia is a key supplier of enriched uranium, potential restrictions could force Western nations to depend more heavily on Cameco, increasing long-term demand for its politically secure uranium supplies. 3. Western Energy Security Policies With growing concerns over energy security, particularly in Europe, many governments are reducing reliance on Russian resources, including uranium. Governments may provide subsidies or support to companies like Cameco, ensuring stable and allied sources of uranium. 4. Supply Chain Tightness Years of underinvestment, mine closures, and geopolitical risks have constrained the global uranium supply. As nuclear energy demand rises, supply shortages could push prices higher, benefiting Cameco as a top producer outside Russia. 5. Long-term Contracts with Utilities Cameco has secured several long-term contracts with utilities in North America, Europe, and Asia. These contracts provide stability and predictability in revenue, especially important in a volatile geopolitical landscape where energy resource security is crucial. --- NYSE:CCJ Cameco Corp. is well-positioned for growth, driven by its strong foothold in the uranium market, favourable long-term contracts, and the geopolitical drive towards clean and secure energy solutions, making it an attractive long-term investment opportunity. I hope you've enjoyed my Analysis and I would kindly ask you to write suggestions, corrections and or your own thoughts in the comments. -- Henrik B.
NYSE:CCJLong
by henriklmao
CCJ - Typically pulls back on new 52 week high - sold PutsChris, After reflection I was wrong to recommend buying on the breakout yesterday (Friday, 4/12). Looking back at the past year I noticed that CCJ typically will retrace on a new high. A 61.8 fib retracement brings the stock back to the previous breakout and a gap which where I like to be a buyer on a bounce. Joe pointed out "The premium for Put CCJ 40 9/21/24 is about $1.85. For a strike price of 45, the premiums for CCJ range from $1.05 (May 10, 2024) to $8 (Jan 16, 2026)." Those premiums are on the upper end 52 week range of the volatility. Thanks for pointing out Joe. I prefer shorter term premium and sold the May 45 for $1.19 which brings the B.E. price right to the 61.8 Fib. I would take assignment at that price.
NYSE:CCJLong
by Bubbalouie
CCJ.NYSE Cameco Corp Inverse Head & Shoulder Seen.Cameco Corp Inverse Head & Shoulder Seen and soon in Blue Sky Territory. This is a fairly rare Pattern IMO. In this Chart I've switched to the line view to reveal the pattern and remove candle clutter. A good trick to use on longer time frames. The Energy Sector is gaining due to the realisation that the World NEEDS MORE. Past speculation about Nuclear has now made this a potential GREEN ENERGY Solution. Uranium Stocks did rally, but there has been some selling and a pullback. I still see plenty of Opportunity in this Sector. As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions. Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away. Regards Graham.
NYSE:CCJLong
by hitchcoxg
CCJ Potential Breakout State Cameco $CCJCCJ Potential Breakout Analysis Cameco Corporation ( NYSE:CCJ ) is currently showing signs of a potential breakout back into Stage 2. Breakout Confirmation The stock price of Cameco ( NYSE:CCJ ) is approaching a critical resistance level. The trading volume is increasing, indicating growing investor interest. Key technical indicators suggest a bullish momentum. Conclusion Cameco ( NYSE:CCJ ) is in Stage 2 breakout, showing promising signs for potential growth.
NYSE:CCJLong
by holacarlosmartinez
CCJ - trying to find a low risk entryCCJ has been on a nice up trend since 11/2020. Looking at the the monthly it has only closed below the monthly 10 EMA four times in the last thirty months. The daily dropped into daily demand and bounced nicely off of the 200 SMA which has been respected for the past year. I bought just above yesterday's high. I bought Jan 40 calls and sold April 47 calls. I have a stop shown and possible targets dependent on time decay of the calls I have sold.
NYSE:CCJLong
by Bubbalouie
Cameco (CCJ) vs peer group uranium miners (Jan 2023-April 2024)As a sector, uranium mining has been in a strong uptrend throughout 2023 with a peak in early 2024. Pullback currently underway, based on Uranium U308 (UX1!) spot price softness since January 2024. Geopolitical and operational factors to be considered: (a) Nuclear energy facilities in Europe and USA are reliant to a large degree on fuel sourced from Russia and Kazakhstan, which may be curtailed via legislation (sanctions on Russia and possibly Kazakhstan) or supply chain disruptions (reduced military presence in Niger, announced operational curtailments in Kazakhstan and Saskatchewan which together produce half of global supply). (b) Legacy nuclear facilities are being extended beyond scheduled retirement dates, which will add to demand-side pressure. (c) Nuclear energy is a significantly less elastic market than other types of fuel due to the continuous operational nature of facilities and imperfect substitution alternatives in the short term, which maintains a floor on uranium demand. For consideration: Buy uranium miners located in stable jurisdictions, friendly to US and European interests, and located close to natural markets for fuel consumers.
NYSE:CCJLong
by StrobeT
Expression of IndecisionThis is a continuation of my post on February 25. The price is now in a REC i.e. the price fluctuates between two lines that are not parallel. It's an expression of indecision – investors can't figure out whether to go up or down. There was a false break-up on May 7. At the time of break one could get the suspicion that the break would be false as there was no support in volume and RSI. But there was not a break the opposite way as we often observe.
NYSE:CCJ
by scorpiris
Uranium could explode back half of 2024CCJ leader of uranium. CCJ has been developing a text book Livermore Accumulation Cylinder. In the last uranium bull market CCJ developed this accumulation cylinder over 4 years from 2000-2004 and now its doing the same accumulation cylinder from 2020-2024. We are in the final flush out stage 7 before an explosive wave 8 up. The chart on the right shows CCJ/SPX. You can see we are in the final bearish flush-out stage before CCJ starts outperforming SPX massively. The ratio also signals CCJ is a long way from outperforming SPX so the real bull has not even started yet. We can confirm this analysis by the miners underperforming the metal - URA/U.UN. Once the miners start outperforming the metal, the real bull takes place as we are on the APEX of that happening soon. The Junior miners will be the stars of the show when the big capital rotates into the smaller developers and explorers.
NYSE:CCJLong
by AxeCapp