President Donald Trump signed four executive orders Friday aimed at jump-starting the U.S. nuclear industry — and the market wasted no time reacting.
Uranium names like Cameco (CCJ) and Uranium Energy Corp. (UEC) ripped higher into the news. But now comes the real test. These stocks need to prove they can hold gains and follow through.
So far, the setups look promising — but they’re not bulletproof.
Resistance Isn’t Dead Yet
CCJ saw a solid pop but is now hanging out in the danger zone. It either needs to break out above $67 or risk rolling over into a third leg lower. A pullback to the $40 area that holds would be a bullish development — anything below that could trigger deeper downside.
UEC’s chart is similar. It’s low-priced and doesn’t always play by the rules. There’s upside potential to $10 if it can clear resistance, but failure there likely brings more pain.
Same goes for Oklo (OKLO) — the same $67 target is possible, but we may revisit $48 before anything takes off.
Why CCJ Has a Unique Edge
This isn’t just hype and headlines. CCJ is uniquely positioned on both sides of the nuclear energy cycle. It’s already the world’s second-largest producer of uranium ore, but what really sets it apart is its 49% stake in Westinghouse — the company responsible for building most of the world’s nuclear reactors.
That gives CCJ both the supply and demand angles. It mines the fuel and benefits from long-term service contracts tied to Westinghouse reactors. With around 260 active reactors in the world — most of them built by Westinghouse — and projections calling for 450 by 2040, the demand story is real.
This is a big-picture supply-demand setup that could play out for years. If you’re looking for a name with structural tailwinds and long-term relevance, CCJ checks both boxes. But none of that matters if the chart doesn’t confirm it. We’re at a critical point now — hold the zone and break out, or roll over and reset.
Keep it on your radar. The story has legs, but the trade needs proof.
Jeffry Turnmire
Jeffry Turnmire Trading
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