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CAMECO CORPCAMECO CORPCAMECO CORP

CAMECO CORP

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CCO trade ideas

Confused bearish trendline breakoutI always try no to draw too many lines because I work with the more basic concepts of support and resistance, trend lines breakout and price patterns . Now Here I have double bottom and a main bearish trend line breakout but the price now have acquired and erratic behavior and more recently the price did a deep pullback and here is the opportunity to entry after this dip (9.79) Other important aspect here is the tails of the candlestick bars in the 7.80 level confirming the double bottom. When I categorize something like a double bottom like in this chart I need a considerable lapse of time between the first floor to the second floor touched in the 7.80 level in this example the double bottom takes one year and one month to take shape. The majority of my ideas have this component a bearish trend line breakout with a double bottom. by the way I not publish the same chart idea twice I not repeat symbols look my published ideas By last the horizontal resistance line in the area of 12.00 was a support broken in the 2008 in the financial crisis and then again was broken in June 2016 This idea need time and observation because the 12.00 resistance level has a lot of relevance in the recent history of this stock. I use a price action analysis with multiple time frame. Without Indicators
NYSE:CCJLong
by Alex_Quiroga
1
Uranium - Light at the end of the tunnel?I don´t think there is a sector that is more hated than uranium. Everything looks very bleak. This is a true contrarian bet. I`m using Cameco as a proxy for the uranium market. As you can see in the chart, this might be the first time in the last 5 years that the uranium market is going to make a higher yearly low. The entry provides a great R/R as one can set SL right below the recent lows or below 2016 lows. If there was anyone left holding long it seems they capitulated on friday, when Cameco announced its third quarter loss. I plan to hold this stock among other uranium companies multiple years, as long as the general markets don´t collapse or there is another Fukushima like event. Company related worries: - Tax dispute with the Canada Revenue Agency, billions of dollars at stake, decision is expected within the next 18 months - Dispute with TEPCO, which recently terminated massive supply deal, the case is expected to be heard in 2019 - Cameco stopped selling into the spot market, most of its contract portfolio will expire in 2021, if spot prices don´t rise until then, Cameco would likely loose this Game of Chicken with power companies The key to me is this: Before Fukushima utilities bought uranium 5-10 years in advance, now they are buying 2-3 years in advance. This is understandable given the uncertainty around the future of nuclear power and current oversupply. It left the market with little buyers and low volume transactions determining the price, but also hundred millions of pounds of uranium that aren't currently covered by supply contracts. (800 million pounds between now and 2026 according to Cameco) One can easily see what could happen if these power companies were forced to cover their contracts into rising prices. -> In the end it will come down to whose projections of future global nuclear power capacity prove correct. Outside of some black swan event that crushes the supply side, i think this market will come back to life as it died, through Japan. Five reactors have restarted to date, a further 21 reactors are in the process of restart approval. With Abe winning the election this seems only a matter of time. My first "target" for the market would be to not make a lower low than in 2016. Ideally stay above recent lows. In 2018-2020 I want to see uranium prices start to rise slowly. Longterm I´m looking for a price of 60$ per pound.
NYSE:CCJLong
by AnRuaN
2
CCJ - Long term Elliott Wave using Truncated 5thIf we accept that the Primary 5th wave was truncated by a black swan event, then we have a possibly correction that ended at Y. Shows potential to bottom out near $8.00. 5 to A 28.16 B to C 18.35 Nov 2016 Wave C has a length of at least 61.8% of wave A ( Oct 15.26% '11), gives 8.17 target. Actual 7.40 w1-3 = $53.96 w5 = $32.89 W5 often equals 62% of w1-3, which gives $33.45 projected move. Actual move = $33 If wave 3 indeed shows a nearly vertical rise or decline, then draw a trend line connecting wave 2 and 4 and draw a parallel line from wave 1. This parallel line will cut through wave 3 and will target wave 5 Further supporting evidence - Truncated 5ths are usually associated with black swan events. W to X is a bit weird?
NYSE:CCJLong
by dibster
Cameco LONG and 600% profit! Or everyone forgot about nucleus...10 years down... Nuclear energy now is not fashionable. The nuclear industry is now not popular. Everyone forgot about it... A good opportunity to buy cheap $11, cheap leader. With the goal $66 and earn 600%, probably will $8, good chance 825% $14 key level. Secured OVER $14 then $66 in your pocket:) The idea is not canceled! No stops! It is not trade, it is the possession! Enterprise Value/EBITDA 9.20 Debt/EBITDA 1.4 Not too cheap, but the company will increase EBITDA and will be growing! Important remind: Stock - is not a line in the terminal, but a share in a real company! There will always be people who will want this share to increase!
NYSE:CCJLong
by Snip878