CCJ made a nice impulse move and watching this correction now. Looks like little more to correct for this ABC move, but could have started wave 3 upwards.
CCJ highest probability count for me right now is we have a wave 1 and looking for bigger correction at this time
Overall bullish on Cameco. Not a clean impulse but looks promising. Think still waiting to finish a wave 1 then a correction. adjusted my count some from the previous video
target $95 and up, extremely robust business, strong history, continual innovation into new markets - namely Lithium downside risk is broader market selloff, which can move price to $60 and under
Really like what I am seeing here. Very possible 1-2 1-2 pattern forming. Looking as though an entire EW cycle which started in 2001 may be complete. I like this play because I believe the entire uranium market is looking for a bottom. I know may traders that are interested in the market. I have also talked with a trusted CFA and he also likes this stocks numbers....
RSI Bullish Divergence on the 4 hour and daily and catching a little support near 8.55. I'm expecting a little bounce here imo #uranium #cjj Marc
Update. Still in trade, iH&S confirmed.
Expecting bounce from extremely oversold weekly and daily levels in one of the uranium sector market leader. If stop breached, be prepared to catch new daily reversal on lower levels with tight stop.
$CCJ iH&S with bullish MACD cross inbound. Bullish divergence on RSI. Looks great for a swing trade & also long term investment.
Levels from early 2000's have been defended with solid buying support. Rising Uranium spot price benefits the producers, and CCj have the luxury of some of the biggest reserves on earth. Fib trends from two blowoff tops on previous rallies lead to a clear confluence of the 0.382 from 2007 and the 0.5 from 2011. Expected timeframe is 2-4 years depending on...
Uranium is my highest conviction idea and consumes a large portion of my book. This is the beginning of a longer-term bull market of 5 to 7 years, don't worry about the short term! ***DONT over leverage!
if you're playing uranium cameco is a solid horse to go with the URA etf is an etf. not bad to have but harder to move. Cameco the company actually been pulling some moves for a while now
Solar is not baseload energy, however, it is now the cheapest form of electricity.
The catalyst for nat gas moving forward is Section 232 tariffs on Uranium, the decision is on April 19'