Hi Traders,
My fav this week is Cameco Corporation (CCJ) which has just bounced off the 50 day moving average with a nice hammer candle and follow through reentering my pitchfork:
Once it clears the 20 day moving average at $120.20, it will trade up to $130 and $135.
Use close below $119 as your stop loss.
CCJ is one of the world’s largest publicly traded uranium producers and nuclear fuel providers. It specializes in the nuclear energy fuel cycle, particularly uranium mining, milling, and related services. The company explores, mines, and sells uranium concentrate (often called “yellowcake”), provides fuel services like refining and conversion, and has investments in areas like Westinghouse Electric Company (nuclear reactor technology) and Global Laser Enrichment.
My second stock is sitting at a pivot point and needs to make a decision so it can go either way and I will tell you what to look for to buy calls or possibly puts.
3M Company (MMM) has collapsed at the median line trading down to the bottom of the pitchfork:
The stock is sitting on the convergence of the 20 and 50 day moving averages providing support.
If it shows bullishness from here buy calls. If it fails this support and closes below, puts are in order.
Use those moving averages as your stop loss area.
MMM is known for its innovation across thousands of products. It operates in several key segments:
- Safety and Industrial — Personal protective equipment (PPE), adhesives, abrasives, and industrial tapes.
- Transportation and Electronics — Films, materials for automotive/electronics, and display technologies.
- Health Care — Medical tapes, dressings, infection prevention, dental products, and more.
- Consumer — Iconic brands like Post-it Notes, Scotch Tape, Command hooks, Filtrete air filters, and Nexcare bandages.
3M is renowned for its R&D culture (it invests heavily in innovation, with a long history of patents) and everyday useful inventions, though it has faced significant legal challenges in recent years (e.g., PFAS “forever chemicals” litigation, earplug-related settlements, and other product liability issues that impacted its stock and led to spin-offs/restructuring).
In recent years, 3M has undergone major changes, including spinning off its healthcare business (now Solventum, ticker SOLV) in 2024 to focus on core industrial and consumer operations.
Trade Accordingly,
Licia Leslie