CAMECO CORPLong
Bullish on Cameco - Show will go on
Updated
Good 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 ofCJ6 which still applies fully.
https://www.tradingview.com/chart/CJ6/KjOZRPJd-Cameco-Corp-CJ6-is-short-term-and-long-term-bullish/
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.
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
CJ6 which still applies fully.https://www.tradingview.com/chart/CJ6/KjOZRPJd-Cameco-Corp-CJ6-is-short-term-and-long-term-bullish/
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.
Trade active
Good Morning everyone.
I forgot to mention that the US government announced the recommissioning of multiple nuclear sites a few days ago. They announced their plans to triple their nuclear energy capacity by 2050. Cameco as the uranium mining company with the biggest market capitalization will definitely profit from this statement.
I wish you all a wonderful day
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