[Short-Term] Cameco is bouncing right now.. Pre-Recession?Good day, welcome to my analysis on GETTEX:CJ6 current standpoint from a technical view.
Please be informed that this is just a short-term analysis, my long term analyses and fundamental analyses can be found here:
Bullish on Cameco - Show will go on
From Fibonacci retracement, we can see Cameco is bouncing around at fib 0 from November 15th indicating a possible movement of direction.
A Fibonacci retracement from Nov. 19th to yesterday's high wick shows the current movement is between fib 0.2 and fib 0.6 (open to close) with today's wick (as of now) laying just above fib 0.7.
Yes, these are pretty short term Fibonacci's, but considering Cameco is at its all-time high, no longer term analysis seems fitting for me.
Now, here are the possibilities:
Recession:
Cameco may go into a short-term recession. I would put the maximum low at around fib 0.2 or the higher low / demand zone from November 20th, which would be €54 or €53 retrospectively.
Uptrend:
Cameco may continue its uptrend until it settles at a new All-Time High. No expected numbers from me.
Update:
While writing this, MT Newswire posted an article called “RBC Raises Price Target on Cameco to CA$90 From CA$75, ”. The possibility of a short-term recession is getting lower, through the uptrend Cameco had while I'm writing this. Anyway, I don't want to have such short term prognoses, therefore I will still be listing this as a neutral.
I hope you've enjoyed this analysis, please read my longer term analyses on Cameco listed below.
Have a pleasant day and may you never exit before the bull run begins.
-- Henrik B.
Uranium
Bullish on Cameco - Show will go onGood 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 of GETTEX:CJ6 which still applies fully.
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.
Utilities vs. Uranium: Is the Nuclear Sector Gaining Momentum?Introduction:
Utilities AMEX:XLU have demonstrated strong performance over the past year, often signaling a "risk-off" market environment where investors seek safety. However, the rise of artificial intelligence (AI) and its impact on market dynamics may be challenging this traditional narrative. Despite the evolving landscape, caution is warranted against assuming that "this time is different." A new factor to watch is the growing influence of the nuclear sector, particularly uranium stocks AMEX:URA .
Analysis:
Risk-Off Sentiment vs. New Trends: While utilities' strong performance typically signals a defensive market stance, the increasing focus on nuclear energy is drawing investor interest toward uranium stocks. The shift reflects a potential change in how market participants view traditional safe havens.
URA-to-XLU Ratio: The upward trend in the URA-to-XLU ratio over recent years indicates a growing preference for uranium stocks over traditional utilities. Even after a significant selloff earlier this year, the ratio formed a higher low, signaling resilience and maintaining its long-term uptrend.
Momentum Shift: The key focus now is whether this ratio can make a new high. If the URA-to-XLU ratio breaks above its previous peak, it would suggest strengthening momentum in the nuclear sector, indicating that this trend could have staying power and possibly reflect a shift in market preferences.
Conclusion:
As the market balances between traditional risk-off sectors like utilities and emerging trends in nuclear energy, the URA-to-XLU ratio serves as a critical indicator of shifting investor sentiment. A new high in this ratio would suggest that the nuclear sector's momentum is strengthening, with uranium stocks potentially leading the way. Do you believe this trend will continue? Share your insights below!
Charts: (Include relevant charts showing the URA-to-XLU ratio, the higher low formation, and potential breakout targets)
Tags: #Utilities #Uranium #NuclearEnergy #XLU #URA #MarketTrends #TechnicalAnalysis
Uranium Energy is it right time to buy?Price Levels and Trends
1. Resistance Levels:
$7.70: The price has faced resistance at this level recently.
$7.68: Another resistance point that the price recently touched but failed to break.
2. Support Levels:
$5.83: The current support level, which has held the price from falling further.
$4.35: The next support level, indicating potential support if the price drops below $5.83.
$2.40: A historical support level from previous years.
$0.5792: A very low historical support level, indicating the minimum price over the chart's timeframe.
Trend Analysis
Uptrend Channel : The price is moving within an ascending channel, with higher highs and higher lows. The upper trendline acts as resistance while the lower trendline acts as support.
Current Position : The price recently hit the upper resistance of the channel around $7.68-$7.70 and has retraced to the support level around $5.83.
Indicators
1. Stochastic RSI:
Current Value: The Stochastic RSI is around 62.61, indicating a neutral to slightly overbought condition. This suggests there might be some room for the price to move up before becoming overbought, but caution is warranted.
2. Cumulative Volume Delta (CVD):
Current Value: The CVD is showing a significant negative value (-35.662M), indicating that selling pressure has been dominant. This could mean that despite price increases, sellers have been in control, potentially foreshadowing further price declines or consolidation.
Trade Idea | UEC | Uranium Energy Corp | Long Long Entry: $7.50
Stop: $6:00
We will be taking this trade right after a minor pullback from this current level of $8.56.
I think there will be more potential upside on this stock as every countries are increasing the power demand due to AI development.
We are now seeing nuclear power revival as uranium energy can produce more energy compared to coal.
The time will comeIt might become a 20$-Stock like Chapman said..
but until then.. you have to preserve your capital..
---STD-TEXT:
Stan Weinstein's method of trading stocks focuses on identifying a stock's position within its four-stage cycle: accumulation, uptrend, distribution, and downtrend. His strategy emphasizes buying stocks in the uptrend stage, where they break out of consolidation with high volume and continue above the 30-week moving average, signaling a strong upward momentum. Weinstein advises selling once the stock enters the downtrend stage, as it drops below the 30-week moving average, thus minimizing losses and preserving gains.
Uranium Energy Corporation (UEC) AnalysisCompany Overview: Uranium Energy Corporation AMEX:UEC is strategically positioned for growth with the restart of its in-situ recovery (ISR) uranium production at the Christensen Ranch project. This project commenced sending resin to the Irigaray Central Processing Plant in August 2024, marking a significant step in UEC’s operational ramp-up.
Key Catalysts:
Global Nuclear Energy Demand: The increasing demand for nuclear energy, propelled by partnerships with major technology firms like Google and Amazon, bolsters UEC’s market position. These collaborations highlight the role of nuclear energy in achieving sustainability and energy security amid growing global energy needs.
Strategic Focus on North America: UEC's emphasis on North American uranium production aligns with recent U.S. and EU bans on Russian uranium, ensuring a reliable domestic supply. This local production capability enhances UEC's competitive advantage in the face of geopolitical challenges affecting the uranium market.
Unhedged Strategy: UEC’s unhedged approach allows investors to benefit directly from rising uranium prices, which are currently hovering around $80/lb. This strategy positions UEC favorably to capitalize on the anticipated increase in uranium demand and prices in the coming years.
Investment Outlook: Bullish Outlook: We are bullish on UEC above the $6.50-$7.00 range, as the resumption of production and the company’s strategic initiatives pave the way for significant growth opportunities. Upside Potential: Our target for UEC is set at $14.00-$15.00, driven by strong market fundamentals, the growing demand for nuclear energy, and UEC's proactive approach to domestic production.
🚀 UEC—Capitalizing on the Future of Clean Energy. #NuclearEnergy #UraniumMarket #CleanEnergyGrowth
Uranium Long Analysis - Cup and Handle, Elliot wave analysisUranium appears to have finished it's larger, intermediate degree correction.
Additionally, uranium has broken out of what seems to be a massive cup and handle pattern.
Expected price within the next decade is likely to exceed 200 dollars/pound.
Expect some more consolidation before a large move higher.
Watch video for more details.
DenisonThis move could be setting up to be 1 huge expanding flat in reference to my previous post - Uranium update in August 2024.
Patterns repeat as this looks very similar to the set up in 2020 -expanding flat correction to whipsaw everyone out of the trade
In both scenarios, price rallied to the 1.236 fib marking the top of the C wave.
CCJ Cameco Corporation Options Ahead of EarningsIf you haven`t bough CCJ before the previous earnings:
Now analyzing the options chain and the chart patterns of CCJ Cameco Corporation prior to the earnings report this week,
I would consider purchasing the 45usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $5.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Uranium double bottom, about to nuke orbit (options play inside)Uranium about to have another leg up once the FED cuts rates this summer. MACD is almost turning over.
Calls for August are going for .12, wait till the double bottom and they should be around .10 or less and scale out at 1.00 or higher. That's 1000% return for waiting a couple of months. NFA.
Shorting URA: 1+ Year Trend Channel BreakoutMonitor URA for a breakdown below the lower boundary of its ascending trend channel. If the price breaks out of the trend channel downward, look for a subsequent bounce back to the $30 price range to test the resistance level. Upon confirmation of resistance at $30, consider entering a short trade using put options to capitalize on the expected downward movement. This strategy aims to take advantage of a failed recovery within the channel, signaling a potential shift in trend.
uranium bull run in placeURA ETF is close to second level breakout
daily chart shows a breakout already.
monthly chart is at resistance but can move higher
in the next month. Cup and handle pattern
has formed on the monthly chart.
Electric cars will need to be charged and BYD is
going to overtake Toyota and Volkswagon in the next
decade.
While the empire was busy occupying,
China was quietly working to build its economy.
Now the world can have cheap electric cars which need
to be charged.
bullish on Uranium bullish on uranium and expect this ETF to breakout soon
Support: $17
Resistance I: $43
Resistance II: $100
According to Munro, who is co-chair of the World Nuclear Association’s Nuclear Fuel Demand Working Group, “we are on the cusp of a new nuclear age in which decarbonisation imperatives collide head-on with unrealistic expectations of renewables penetration, leaving nuclear power to wean the world off coal and decarbonise the expanding electrical grid, domestic heating, industrial heating and hard to abate areas of industry including hydrogen production. If nuclear power can achieve its decarbonisation potential around the world, the implications for uranium demand will be astonishing.”
Rising supply could act as a headwind for uranium pricesThe price of uranium, known as yellow cake, has more than doubled in the past year amid a significant imbalance between supply and demand in the global market, sending uranium-related assets soaring to the sky. In addition, the return of Japanese appetite for carbon-free energy and the restart of two nuclear reactors last year, along with plans to restore more units in 2024, also contributed to rising prices. Then, more recently, the announcement of the U.S. ban on Russian imports of uranium and the approval of the GX Decarbonization Power Supply Bill in Japan, aimed at creating a carbon-free energy supply, have had the same effect, helping uranium to regain strength after a brief selloff in February and March 2024.
Illustration 1.01
Uranium-related assets, including Global X Uranium (URA), Sprott Physical Uranium Trust (SRUUF), Sprott Uranium Miners ETF (URNM), and Uranium Energy Corporation (UEC), all recorded huge gains in the past year or so.
Since the start of 2024, uranium has gained approximately 4.7%. Yet, for the year, its performance has been flat, which begs the question of whether the rally is not overdone at this point when the supply is coming online around the world, raising chances of the market moving toward balance and potentially leading to stabilization or reversal in prices. According to the quarterly Domestic Uranium Production Report published by the U.S. Energy Information Administration (EIA), uranium production in the United States for the first quarter of 2024 already surpassed the total output last year. Moreover, data from 2021 and 2022 suggest countries like Australia and Canada are also trying to ramp up their production in response to rising prices.
Illustration 1.02
The image above illustrates the weekly graph of Global X Uranium ETF (URA) and a major resistance at $31.60.
Regarding Global X Uranium ETF (URA), it recorded remarkable 353% gains since its lows in 2020, coupled with a nearly 15% increase in the current year alone. However, despite these impressive gains, the ETF has encountered a significant hurdle at the $31.60 mark, signaling a potential barrier to further upside momentum. Besides that, there is a growing perception that events traditionally viewed as catalysts for price appreciation are losing their potency over time, indicating a potential shift in market dynamics.
Technical conditions
Daily time frame = Bullish (losing momentum)
Weekly time frame = Bullish
Monthly time frame = Bullish
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
Uranium Go Boom!Uranium looks ready to explode higher.
This commodity had a daily chart breakout today and no one is talking about it.
Silently triggering a bullish inverse head and shoulders, this should yield more upside.
I'm looking for this breakout move to be confirmed in the coming days. If it confirms a breakout this will be a likely trade that we can buy the dip on.
TD9 count, parabolic, MSM euphoria/ fear - Gold to Cool Offthe fundamentals on gold aren't good:
1. its a rock, King Midas can make the supply infinite
2. mining it is an environmental mess and energy waste
3. value is primarily speculative
4. ton of overhead bagholders from 1,500-2,000 days
5. crypto currency stealing new retail
6. being hoarded by fragile states/ regimes
7. regulatory risk during crisis times
8. massive derivatives & futures market pressure
9. new chemistry could obsolete its small set of utility applications
10. Peter Schiff, Rickards, Clif High, etc baby boomer ponzi crew
11. "Everyone Knows" its a good investment now right? Too Good to Be True pitfall
12. Its just a shiny metal from underground
13. Millennials are already post-gold, post-diamonds