MalcolmAllen
Long

Cameco Buying opportunity

NYSE:CCJ   CAMECO CORP
Arrived at the lower support line quicker than i expected, picked up 300 at 9.65, of which it then fell further. sitting quite uneasily on the Fib 0.5, a downtrend and a uptrend!
Positives its above the support line for the third time. needs to stay there.
Negatives the RSI is still in a downward trend.
Are the miners leading the way for a fall in the Uranium price?
Trade active: Picking some up a few at these levels (8.53 possible double bottom).. could be bargain of the century. Uranium is everybody favorite punchbag at the moment, with all U stocks taking a pounding , Boy George best summed it up when he sang " I`m a man without conviction" so we know he isn't buying... the catalyst is when the Utilities started realizing that there poker hand is a busted flush...
Would not be surprised to see 8,04 or even 7,46 at these levels they are giving the stock away...


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