Cameco Company (CCJ) is without doubt one of the world’s largest uranium producers, headquartered in Saskatoon, Canada, and a key provider of nuclear gas used for electrical energy technology worldwide. With main mining operations reminiscent of Cigar Lake and McArthur River, together with strategic property in gas providers and nuclear expertise via Westinghouse, Cameco performs a central function within the world nuclear vitality provide chain, benefiting from rising demand for clear, low‑carbon energy.
Cameco ($CCJ) Month-to-month Elliott Wave Chart
The month-to-month Elliott Wave chart for Cameco (CCJ) reveals that wave (II) of the Tremendous Cycle bottomed at $5.17 in March 2020. From that low, the inventory launched into a robust impulsive advance in wave (III), unfolding as a triple nest. Wave I of (III) peaked at $62.55, adopted by a corrective wave II that retraced to $35. The following nesting sequence carried costs increased, with wave ((1)) topping at $110.16 and wave ((2)) pulling again to $77.70. The advance then resumed, with wave (1) of ((3)) of III reaching $96.57, and the following wave (2) correction proposed full at $100.11. So long as value holds above this stage, CCJ is predicted to proceed extending increased inside wave (III).
Cameco ($CCJ) Month-to-month Alternate Elliott Wave Chart
The month-to-month alternate Elliott Wave chart of Cameco (CCJ) means that the Tremendous Cycle wave I concluded at $135.24. This accomplished a 5‑wave advance from the March 2020 low. The inventory is now positioned for a bigger diploma correction in wave II of the Tremendous Cycle. It ought to unfold in both three or seven swings earlier than resuming its upward pattern. Inside this alternate view, CCJ could decline towards the $74.60–$96.00 zone. That is the world the place patrons are anticipated to emerge for renewed power or a minimum of a 3‑wave rally. This space aligns with the 100%–161.8% Fibonacci extension of wave ((Y)) relative to wave ((W)).
$CCJ Each day Elliott Wave Chart
The day by day Elliott Wave chart of Cameco (CCJ) reveals the first view that the ETF is advancing in a triple nest from the March 2020 low. Wave II accomplished at $35.57, setting the stage for a robust rally in wave III in a nested sequence. From the wave II low, wave ((1)) peaked at $110.16, adopted by a corrective wave ((2)) that ended at $77.70. The following advance carried CCJ increased with wave (1) reaching $135.24. The next pullback in wave (2) accomplished at $100.11. So long as value holds above $100.11, the ETF is predicted to seek out help and proceed increased. A break under $100.11, nevertheless, would sign that the alternate situation outlined earlier is in play.
Supply: https://elliottwave-forecast.com/stock-market/cameco-ccj-may-see-short-term-support-soon/