By Licia Leslie
September 29, 2024
Hi Shoppers,
Cameco Corporation (Ticker: $CCJ) has had quite a quick run up trading from $35.89 on September 6th to $49.28 on September 26th:
Last Thursday’s action created the change in trend candle called the shooting star right at the top of the pitchfork.
The bulls were in control taking out the previous day’s high and then the sellers took over pushing the stock down to close at the lows of the day.
I am waiting for the Relative Strength Index to cross back below 70 before hopping into puts.
The 200 day moving average sits at $45.93 and below there support comes in at $45.80.
Trade Review
Morgan Stanley (Ticker: $MS) traded higher and pulled back a bit. Maintain a close below $103.70 as your stop loss.
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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