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Cameco Corporation (US)Cameco Corporation (US)Cameco Corporation (US)

Cameco Corporation (US)

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CCJ trade ideas

Uranium prices and demand increasing as well as sentimentPrices and demand for uranium are increasing. Public perception of nuclear power has improved. Cameco is acquiring 49% of Westinghouse Electric which is going to broaden the business that Cameco takes part in. Before CCJ mined and produced fuel for heavy water reactors. After acquiring Westinghouse Electric they will now be producing fuel for light water reactors which are more common as well as Westinghouse being responsible for maintenance on most western reactors.
NYSE:CCJLong
by BaseEight
CCJ - possible stage 4 incomingDear all, Another name that is probably setting up for stage 4 in the energy sector, this time a uranium name: $CCJ. After consolidating a stage 3 for almost a year and forming, kind of a sloping head and shoulder pattern and loss of the longer term trendline this week, it is time for a stage 4 decline. Things to consider for a stage 4: - declining 30 week Ma :check - declining 10 week Ma :check - 10 w underneath 30w :check - Loss of trendline :check Extra reasons for stage 4 decline: - Big volume on down days :check - Gap downs - Resistance of AVWAP of important dates (big volume days 1 feb 21, last high and low) The price is now trying to reach back the broken trendline, but is unable to break through. The trendline is now also confluencing with an AVWAP. Next week the 10w sma is at the same spot and also the downtrending trendline from last high. This will be a very tough spot to break, so a high probability the price will move downwards. I entered last week with a few puts, three months out. Stop loss i would suggest is the break of before mentioned resistances ca. 23-23,5 Good luck and have a good year!
NYSE:CCJShort
by UnknownUnicorn7024067
1