Uranium Cameco CCJ Bears are in control!The bears are in control!
The weekly chart just had a MacD crossover!
Stay vigilant!
CCJ
CCJ weekly bearish hammerSell Stop 26.33 LMT 26.33 GTC
Buy Limit 21.62 GTC
Buy Stop 29.42 GTC
CCJ weekly bearish hammer wave C correction or wave 3 downtrend.
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.
CCJ short after bearish hammer on dailyNice bearish hammer on CCJ on daily at the local highs.
Waiting for impulse.
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
CCJ - LONGA great swing idea in a major uranium player. At major support. Looking to for a push higher once the squeeze fires.
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.
CCJentry around 20$ would be ideal
easy invalidation if bearish cfork continues
2-5rr depending on how agressive your targets are
$CCJ $MDU $AMD $CPB I OptionsSwing WatchlistCCJ 1D I CCJ has been showing relative strength as we have ongoing wars with major superpowers involved. And also WSJ news pointing to China's fast nuclear buildup.
MDU 1D I Engages in the provision of natural resources products. Our bots picked up unusual options activity on MDU $30c 07/12! MDU has shown relative strength.
AMD 1D I AMD has been defending the $100 level, and we've seen two bounces near this level recently. With earnings coming we could see a run up into ER if $100 holds.
CPB 1D I CPB is one of the largest processed food companies and it's listed in the S&P 500. The food processing industry has been outperforming the market recently.
US Stock In Play: $CCJ$CCJ - addition to $DNN in my previous tweet, $CCJ is the strongest of all Uranium names currently.
already at 52 weeks high in both price and RS & a narrower correction range to its rising 10/20 MA. largest market cap of all 4 names at 12.1B (8 times the size of DNN)
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
$CCJ Uranium - like clockworkCCJ- lagging URA, UUUU, DNN into close. Typically outperforms the rest of the uranium tickers. Big day on Thursday, decision on adding Uranium to the US critical minerals list..
CCJPush to fill the gap upwards around 36??
Seems likely if we break above 29$. Go long on the breakout.
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
Uranium is in an uptrend. Uranium miners should do very wellUranium futures are now tightening at the 21 MONTHLY moving average, above the 50 month moving average, and retesting the lows of 2014 and the highs of 2019. This is the type of signal I've been waiting for to pull the trigger.
Here's an example of a small cap uranium miner I like:
John Quakes is a great guy to follow on Twitter if you want to learn more about the industry and other mining companies.
Just be aware this is an extremely risky sector that's underperformed the broader market for a decade. We're only seeing relative strength this year. As always in markets, things change fast... but I think the tide is turning in this one.
All the best
$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)
UUUUlooks like my Z wave is playing out for the UUUU here, to understand WXYXZ pattern is to know that a series of 3-3-3-3-3 wave patterns have evolved and they are sideways in the chart not compressed into a triangle which would rule the 3 wave pattern as an ABCDE. Now looking at the stoch RSI and also the standard RSI we can see they are both dropping from over bought with room to drop, also the daily rsi has much room. If the Z wave ends up in typical Z wave fashion it would look like the start of an impulse but is actually the end of the WXYXZ pattern and shows all bullish momo has finished . So if I'm correct we are in W2 on H4 and the daily should hit 1.618 fib lvl for a W3 around $4.70 to confirm my chart.
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).
2/27/22 CCJCameco Corporation ( NYSE:CCJ )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 9.085B
Current Price: $22.81
Breakout price: $22.95
Buy Zone (Top/Bottom Range): $22.10-$20.55
Price Target: $26.40-$26.90 (1st), $28.30-$29.00 (2nd)
Estimated Duration to Target: 46-48d (1st), 90-93d (2nd)
Contract of Interest: $CCJ 4/14/22 24c. $CCJ 5/20/22 24c
Trade price as of publish date: $1.48/contract, $1.80/contract
UUUUHere is my detailed analysis on UUUU. I think we need to test $3.60 to finish the larger HTF Wave C. Please like the video and share it on your social media. Big Mike loves you all.
