Cameco (CCJ)
By Fri, Apr 1, 2022
Hey,
The war in Ukraine has Europe looking for alternate sources of energy, with Russian oil and gas now a hot potato.
That’s why nuclear energy is getting back into the mix.
And the markets are noticing. Cameco, the largest uranium producer by far — larger than all other listed miners combined — just hit 10-year highs.
And I expect the company to continue to head upwards, as rumors about new nuclear power morphs into plans for new nuclear plants.
Buy Cameco anywhere above 26 — with 44 our target ceiling in the short-term.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
