Stock Watch: Cameco Corp Is A Buy

Cameco Corp. (CCJ) is a major player in the current and projected uranium supply/mining world. 

The Trade

It's currently in a "buy zone" but has broken its first strong support at $13.63. 

Next level is $9.76. A break below that (and gaining strength of the dollar) could cause

CCJ to drop into the $5-$3 range.

Bottom Line

A good "buy low / sell high candidate" for my longer term traders interested in fundamentally strong metal companies. 

CCJ_pic.jpg

 

 

Related

stocks

Stocks: Slow Motion Correction Is Painful

What happens when market players are undecided but slowly but surely throw in the towel each day?  We...

May 20, 2016