CCJ
CCJ Uranium Play Trades to watch #3Something spoke to me and said look at Uranium so I am digging in to some uranium plays trying to find the best one. I like URA although it might move slower than some of these other ones. SO just weighing my options.
by iCantw84it
05.24.2021
14 year Uranium bear market about to endI've been long since $10/share, now is the time to double down
CCJ CAMECO CORPPrice action moving back into parallel channel. MACD crossed, both Stoch and RSI in an uptrend. This week should be fun
CCJ CAMECO CORPCCJ price gets back in today in an upward channel. We broke through resistance line but need to confirm tomorrow with farther advance in a price action. Price bounced off nicely from 50DMA. Price might bounce of from $21.12 or overshoot to $22.13 - approximate date April 12th
Buy the dip on Uranium CCJI drew these trendlines about 2 weeks ago and since then the price action run like clockwork. Just used this to load up more on uranium-heavy bags. The white line is from multi-year falling wedge which was tested again and showed strong support. My actual price target is near ATH. I think we will miss the opportunity of CCJ below $20 soon.
Uranium is similar to planes. People are usually more afraid of flying than driving, but numbers do not lie and show that planes are the safest mode of transportation. I think the sentiment is shifting and the risk is to the upside.
CCJ possible price and time frame CCJ had an incredible run in a short period of time with multiple pullbacks which developed bullish pennants along the way with new ATH. Currently in consolidation mode with another bullish pennant in process. Looks like we have landed on a support line today with massive sell off due to Red Army attacking the market crashing pretty much all sectors. New target ATH $24.64 with approximal arrival of April 23rd. Like I have mentioned in DNN analysis Uranium has strong fundamentals with 60 million pound in deficit production
CCJ ON A MISSION?Last monthly at 14.29$ wasn't properly retested yet, so to continue in this Bullrun I'd like to see this support claimed.
Otherwise, I see a steep growth continuing up to the monthly at 33.81$ once spot uranium gets bought up.
Beware of the green gap.
$CCJ Bullish outlookOne of the most technically pleasing charts that I've seen, with a wave 2 and 4 on .618 retracements and on track to hit the 2.618 fib level as a wave 5. Long term this whole sector is going to explode, and although I added a position on an already extended position, uranium spot price added 21% year to date to it's value.
Cameco CCJ 25 to 30 on this movewant to stay above 15.4. think good risk reward here.
not financial advice
CCJ Elliot Wave analysis CCJ very strong company fundamentally with very strong assets. Uranium bullmarket started this year and will continue for the next decade as electricity will be in high demand. Nuclear energy will be inevitable. CCJ is the worlds biggest publicly traded uranium company.
PT shortterm $35-37
PT longterm $60-100> depends on agression of uranium bullmarket..
~slippe
$CCJ AccumulationCameco under accumulation from 2016. U spot increasing should do very weel over next 5 year IMO
CCJ long to the top of the channelCCJ (Cameco) looks very attractive at this price point. With a green close today, CCJ could keep climbing until the psychological $15 level. Cameco may perform very well in 2021.
Cameco Ideal correction priceWill see if this holds but it does check some boxes for me except the most important -> bullish confirmation.
not financial advice
Nearing "back the truck up" for CCJStock is close to finishing a retracement of its recent run-up.
Fib retracement of 0.5 is $11.91 and trend support around $11.91 and 50dma at $12.06.
With good support likely at those levels and a fib extension >$15.63 creates a good asymmetric entry in the low $12 range.
CCJ Cameco: Channeling?Above it, followed by retest and resumption, will result in a parabolic move.
Still has that gap to fill, will result in some soiled underwear if it were to happen rapidly. Flagging out until April.... boring but... w/e
I haven't been charting for very long, but let me know if my comments below are stupid.
CCJ Daily Chart Divergences usually lead to a LT trend. (I'm very intrigued by this... when I find a stock that behaves like this)
2000: May-August. See the divergences and all three trending upward, especailly in July
2002: Summer to Fall. MACD like a slingshot, RSI ascending lows contradicting the two valleys in the candles
2010-2011: RSI and MACD pulling on the candles between November 10' and Feb 11' but specifically RSI and STOCH early FEb to Mid Feb. Then fundamentals kicked in: earthquake.
2020: Mid Oct to Early Nov (this is the divergence that I think sent CCJ up the channel for a long time)
Still learning.
Cameco Nice off the low3 waves so far. Expecting a 13 to 14 finish and hopefully a nice buying opportunity correction
Camejo (NYSE) daily chartprimed for a break out here. Cyclical uranium bull market forming. $CCO.CA $URA
Cameco (NYSE) Monthly chartbeen watching the uranium sector for a while. looks primed for another cyclical uptrend. $URA $URNM . no pos
Cameco CCJstill correcting and expecting the ~9 to ~8 range. Could be a bottom in the 3rd wave and seeing 4th wave now. More bullish over ~10.5
