CVVUF-Odds Favor a Resolution to the Upside Barring an imminent or protracted recession, CVVUF looks ready to confirm a close out and above this massive bullish pattern
CVVUF trade ideas
Canalaska $CVV up 50% on new findNew uranium find has pushed Canalaska up 50% in a day. Wow!
Downward trend channel formed in April 2021 and almost 3 years later it has broken out, pulled back and now rocketed with volume.
0.85 therefore seems achievable and 1.54 all time high could also be possible.
As ever, this is not a solicitation to trade. Do your own research and you decide all aspects of your own trading.
Breakout for Canalaska CVVBreakout for Canalaska CVV
Backed by big volume too
Next resistance 0.86 and then 1.52
Wait and see if it can break to new all time highs in the coming years. All depends on Uranium futures and the company's performance.
CanAlaska backtest complete, on 50 EMA support. $CVVUF $CVV The Uranium explorer Canalaska recently broke out of a downtrend and has completed a backtest. This was also recently added to AMEX:URA , the world's largest Uranium ETF. With rising Uranium prices expected to continue for the next few years, this one should do very well, especially if they find a mineable deposit.
I am holding for the long term (1 year minimum), a target cannot be determined at this point.
Cameco had their Q4 earnings call yesterday and the market reacted very poorly and undeservedly so. Nothing has changed about the uranium bull thesis, and so this is a tremendous buying opportunity imo.
Cheers!
Breakout for Canalaska?Is this a breakout for Canalaska? No retest of the channel yet and over head resistance at 0.67 and 0.84. In support: over 4x average volume on week commencing 25th September and a higher pivot high compared to Jul 22.
WARNING: This is not a recommendation to trade. Do your own research and decide your own trades.
CVVUF$CVVUF - Weekly - got followed by
@CanAlaska
- I am not holding this stock currently. As token of appreciation here is my view for this company. Price stayed in ascending parallel channel. IC - needs few confirmations for a farther advance. #uranium #UraniumSqueeze
Swing trade idea (short term forecast)Possible move to $0.50 (witch can be supported by 50 MA)and then bounce back up to $0.67 area-price control zone (middle)of the uptrend channel and it is also corresponds to the previous high ,if it breaks up pass the $0.67 area (previous high witch will be resistance ) then we can see it moving higher.
Look at the CCI alert (purple and red vertical lines on the chart and correlate it to CCI at the bottom of the chart -look at the orange squares-it indicates that there can be a possibility of the move down ,also look at the VPVR and it correlation to entry zone( $0.50) marked by the orange rectangle and at the 50 MA -green line crossing the stop loss area ($0.48).
Cation -while CVVUF showing an uptrend for the past 5 month ,RSI is showing negative divergency (look at weekly or daily timeframes) ,also volume is declining as well but bullish trend is continues -can it be a sign of a big correction in the near future ?
Game plan :
Entry - $1.51
Stop -$0.48
Exit -$0.67
R/R - 1/5.3
