Time for Uranium? (CCJ)

by | Apr 11, 2024

Mining and Minerals is a sneaky-volatile sector.

No one thinks of big gains in uranium mining — or mining in general — but there are big swings in this group.

For example, since late 2020, Canadian miner Cameco (CCJ) has gone from $9.50 to $49.50.

Here’s the chart:

CCJ’s sector is one of the hottest 50 in the world right now and if we get a break above $51.33, we could see another huge move.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.

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