Cameco is a number one Canadian uranium producer primarily based in Saskatoon. The corporate operates among the world’s highest‑grade and lowest‑price uranium mines. It additionally maintains a big presence throughout the nuclear gasoline cycle by refining, conversion, and gasoline‑manufacturing belongings. On this article, we’ll take a look at the long run Elliott Wave path.
Cameco ($CCJ) Month-to-month Elliott Wave Chart
The month-to-month Elliott Wave chart for Cameco (CCJ) signifies that wave (II) of the Tremendous Cycle ended at $5.17. From there, a robust impulsive advance in wave (III) adopted. From the wave (II) low, wave I accomplished at $62.55, and the next pullback in wave II completed at $35. The inventory then resumed increased in a nesting sequence, with wave ((1)) ending at $110.16 and wave ((2)) pulling again to $77.7. So long as worth holds above $5.17, any pullback ought to discover assist in a 3‑, 7‑, or 11‑swing construction, with the broader pattern favoring additional upside.
$CCJ Day by day Elliott Wave Chart
The day by day Elliott Wave evaluation of Cameco (CCJ) exhibits that wave II accomplished at $35.72. From that low, the inventory resumed increased in wave III, which is unfolding as a 5‑wave impulse. Inside this advance, wave ((1)) peaked at $110.16, adopted by a pullback in wave ((2)) that ended at $77.7. Within the close to time period, so long as the pivot at $35.72 stays intact, any pullback is anticipated to seek out assist in a 3‑, 7‑, or 11‑swing construction, setting the stage for additional upside.
Supply: https://elliottwave-forecast.com/stock-market/cameco-ccj-breaks-impulsive-strength-returns/