Cameco Corp. (T-CCO)
I like P&F charts whenever I can get a good chart. Not all stocks issue good P&F charts. Cameco has a good chart with a clear break-out this past week. Although the latest move is only for the past 6 months or so the pattern is clear. The break-out gives one a projection to at least the $51 level, a 100% plus move from here. This is a good potential for a larger quality uranium stock. (note: although the break-out came at the $23 level the projection assumes a move to $24 and the count is to the wall of Os)
A daily chart shows the clear break through resistance. It also shows a stock price above its positive moving average line. The momentum indicator is also above its positive trigger line and has just entered its positive zone. As for the volume indicator, it is acting strong having moved above its similar resistance level over a week ago.
Everything suggests a good move for the more cautious conservative “investor”. I do not expect any serious problem with this stock now but would place a mental stop loss at the $18.50 level for now. After all the long term rating has not yet gone into the POS side.
I like P&F charts whenever I can get a good chart. Not all stocks issue good P&F charts. Cameco has a good chart with a clear break-out this past week. Although the latest move is only for the past 6 months or so the pattern is clear. The break-out gives one a projection to at least the $51 level, a 100% plus move from here. This is a good potential for a larger quality uranium stock. (note: although the break-out came at the $23 level the projection assumes a move to $24 and the count is to the wall of Os)
A daily chart shows the clear break through resistance. It also shows a stock price above its positive moving average line. The momentum indicator is also above its positive trigger line and has just entered its positive zone. As for the volume indicator, it is acting strong having moved above its similar resistance level over a week ago.
Everything suggests a good move for the more cautious conservative “investor”. I do not expect any serious problem with this stock now but would place a mental stop loss at the $18.50 level for now. After all the long term rating has not yet gone into the POS side.
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