CCJ - LONGA great swing idea in a major uranium player. At major support. Looking to for a push higher once the squeeze fires.
CCO trade ideas
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.
CCJ URA Uranium Bulls running with itI like the idea of going long CCJ April 26 calls or a 26/28 debit spread with more time.
Uranium bulls have defended the trendline support and nice volume with technical indicators and moving averages implying more upside on a strong day already today.
Stop is below 20 day moving average (black line).
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 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
4/3/22 CCJCameco Corporation (NYSE:CCJ)
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 11.562B
Current Price: $29.03
Breakout price: $30.00
Buy Zone (Top/Bottom Range): $27.10-$24.65
Price Target: $34.80-$36.00 (3rd)
Estimated Duration to Target: 150-160d (3rd)
Contract of Interest: $CCJ 9/16/22 35c
Trade price as of publish date: $2.55/contract
$CCJ - Cup & Handle Breakout in Bullish SectorNYSE:CCJ
$CCJ showing a C&H breakout, and in a bullish sector.
Out-of-the-money options flow is very bullish, with the 4/14/22 and 9/16/22 expiration dates show most open interest. Strikes are between $30 and $40.
As always, do your due diligence and confirm your levels.
CCJ: Potential Gap Fill to UpsideCCJ's price action seeing responsive participants with alternative energy leading the market amidst heightened oil prices. While key levels on acute time frames are being tested by both buyers and sellers, CCJ's weekly optics present continuous range extension. While price action has begun to pierce a gap previously seen from April 2011, KL of 28.45 would be more indicative of reclaim in higher value areas (30.71) ; Continuation into mid 30's would materialize a cup and handle pattern on the Weekly// Technical analysis reflects MACD cross, price action over key moving averages, and a high correlation regression channel on the daily time frame. Bias is long on premise of global events related to commodity and tensions in Europe// ATR: 1.49,Beta: 1.01
$CCJ closed calls for small gain and went shortCCJ daily candle closed pretty bearish today, and looking at the two upper resistance lines, I'm favoring the downside trade after taking small gains on my longs.
An idea would be to go short with MARC 23 puts.
First target is the 20day MA (blue line) , a break lower there and I'd be targeting the trendline support (black line)
