Uranium Cameco CCJ Bearish outlookMy analysis indicates from 9-11-22 Cameco should start making lower lows and lower highs.
Let's see if my calculation will pan out.
CCO trade ideas
Cameco out performing US equitiesPower squeeze in favor of uranium miners versus US equities.
2003 analog setup where Cameco went on to out perform SPX by over 500%.
#uraniumsqueeze #uranium #fintwit
CCJ: One more Uranium Short for good measureMy outlook on Uranium and Nuclear Energy has shifted bullish long term. The spike in volume on CCJ during this uranium bull run bodes well for the future of uranium in my opinion. That being said, CCJ has been trading in an ascending channel for over a year now whilst being rejected at the long term .786 fib at $33.34. I am expecting an ABC correction to at least ~$10 (Highest Volume Node, 1 fib level, 0.7 fib level). Wave 2 can retrace up to 100% of Wave 1, but there is significant confluence for support at ~$10.
I don't believe the transition from fossil fuels to renewable energies is going to happen in a snap of a finger. Not in a rush to purchase anything Uranium related.
CCJ short after bearish hammer on dailyNice bearish hammer on CCJ on daily at the local highs.
Waiting for impulse.
staying long CCO - buy pullbacks uo to top of channelUranium bull market to continue imo... hold longs or buy pullbacks up to top of this channel around 48 handle.
$CCJ reversal $CCJ Price finds support at monthly pivot S1 line and daily inside bar has been formed at heikin ashi chart.
Close above 23.7$ triggers idea with profit target 29.5$ and stop 21.9$.
Risk Reward ratio 3.3
CCO longIts been a while. Lots of hand sitting this month. Finally a few stocks are moving the right direction.
Entry here in CCO Long. Bounced off the long term 0.382. looking for short term run to 0.5. 3/8 trap triggered entry. 1st target of %10 hit so took 1/3 off. Stop moved into slight profit for protection.
Accumulating Uranium stocks at this time so looking at how to hold last 3rd for a long period. Will update plan as it develops.
Is $CCJ ready to start coming up on the right side of its base?Notes:
* Strong up trend since March 2020
* Good earnings in the recent quarters
* Has been basing for ~5 months now
* Seems to have formed a double bottom with a handle
* Printed a pocket pivot with a bullish pin bar in the last session
* Red lines denote historical levels
Technicals:
Sector: Energy - Uranium
Relative Strength vs. Sector: 2.32
Relative Strength vs. SP500: 1.64
U/D Ratio: 1.02
Base Depth: 57.8%
Distance from breakout buy point: -21.39%
Volume -6.15% below its 15 day avg.
Trade Idea:
* You can enter now as the price is close to its 50 day line and is offering a potential early entry
* If you want a safe entry you can wait for a break above 26.16 as that is immediate resistance
* This stock usually has local tops when the price closes around 20.97% above its 50 EMA
* Consider selling into strength if the price closes 20.77% to 21.17% (or higher) above its 50 EMA
* The last closing price is 5.76% away from its 50 EMA
Second VultureSomething big is brewing at CCJ! Another Vulture is joining into the race. I smell big catch.
VultureUnusual situation at CCJ. After earnings call hungry Vulture joined the race with Giraffe in pursuit of new abundant territory. From what we know from biology classes, there is enough room for both.
GiraffeWild Giraffe appeared at CCJ plains. It seems that she has consumed everything at current position and is on the way to new abundant place.
CCJ channel breakoutPrice seems to have broken above longterm channel.
I will wait for a confirmation and consolidation above 22
This has potential to test 30s.
Important to wait for a break above 22
CaterpieA wild Caterpie appeared. Its short feet are tipped with suction pads that enable it to tirelessly climb slopes and walls.
CCJ - LONGA great swing idea in a major uranium player. At major support. Looking to for a push higher once the squeeze fires.
Uranium as compared to OilQuick chart to demonstrate the correlation between uranium (I'm using CCJ as a proxy) to oil.
Commodities go where oil goes.
Oil always goes down when inflation rates go down.
Getting through recession before Cameco (uranium) bounces?In prior 2008-09 recession, Cameco massively underperformed.
In a high volatility regime for stocks (VIX > 20), equities overall tend to do poorly.
The arc (a @northstar badcharts favorite) suggest another touch down before resuming its uptrend.
Possible Livermore Accumulation CylinderI worry for the uranium sector. Not because of the fundamentals, but because it seems that "the life changing gains" were only experienced during strong moves in stocks.
The Cameco $ccj chart does show promise though, I see a {Livermore accumulation cylinder} in the making.
$CCJ - enter at 26.91I saw this set up, bought it, it stood still, I dumped it for flat.
I am a moron. Don't be a moron. There is uranium news driving this (buy the hype...).
I would be back in around a retest of 26.90 area. Target is 31.75. Let's see if it sets up
CCJentry around 20$ would be ideal
easy invalidation if bearish cfork continues
2-5rr depending on how agressive your targets are
Nuclear is the futureCameco corporation is a uranium mining company.
Fusce posuere, magna sed pulvinar ultricies, purus lectus malesuada libero, sit amet commodo magna eros quis urna. Nunc viverra imperdiet enim. Fusce est.
#CCJ is setting up for a bounce to the top sideAs you can all see from the daily chart CCJ pulled back on the Fib levels to that .50 area we wicked and are now potentially heading back up to potentially make new highs, me personally i would of much rather liked a pull back to .786 area before we got to see a new run to the top but either way i'm ready, looking at the options chain flow the 35 call for May 20 expiry looks to be primed as well as 34 and 32 call has a ton of oi on them as well waiting for numbers to update on the volume from yesterday to see how much is rolling into the oi or if we get a reduction in the oi levels we know people may be rolling out of those trades either way we should get an opportunity to make some nice gains off this play.
Retracement levels for CCJWeakness growing for CCJ. I'm going to close half the position and open a short
Technically there's only so many times you can knock on the resistance without breaking. I think this bull move has run out of steam. Looking at a a retracement now. First to 0.236 Fib level. Then possibly the the stronger 0.382
● latest local top
● RSI =>70 multiple times
Target 1:
● 20 EMA and 0.236 Fib 29 - 29.3 region
Target 2:
● 50 EMA and 0.282 Fib 26.9 region
