I know a lot of people are interested in the Uranium sector and so here’s a look at the technical buy area for Cameco (daily chart), which got hammered after earnings (that should not have been much of a surprise). I think the move was just taking out the exuberance of the previous run up.
9.75 would be the preferred buy level for a CCJ/Uranium bull. The 200 day average (9.36) would be a logical downside tolerance point. Uranium has taken forever and a day since entering its bear market. But if silver could finally do it who knows, maybe U can too.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
