0R35 trade ideas
Cameco Corp - is that a 5 wave impulse?Published a couple of ideas on this Uranium stock back in 2018 and in May this year with both of them playing quite nicely to the script. The recent pattern from the low looks like a 5 wave impulse pattern to me so I will be keeping a close eye on this stock to see if it wants to continue this uptrend any time soon.
CCJ Bullish Continuation RectangleBeautiful rectangle consolidation. 2 ways to play this. Buy daily close above rectangle resistance or buy support after a sign of a bounce taking place. Notice how 200 moving average coming up to converge with rectangle support area. Might head down there in the next few days if the market entered a pull back today. Either play should provide a good bullish opportunity to get in. Volume pattern supporting long side.
Cameco Breakout?Looking at the chart it looks to me like we might have a breakout on the way.
I have not traded Uranium stocks so I'm no expert on the price movement, stocks or this sector.
With that said Uranium looks like it has just had a nice run up the price is coming off recent highs and may continue higher from production issues in the sector which have made the space unattractive for producers to profit & investors to capitalize from until the supply is not there to reach demand this is why I am looking at the sector more closely over the coming weeks to find out what is happening in the Uranium space.
For me, this is an interesting sector to watch closely as I think this could be a missed market opportunity for the future.
Waht do you think??