Cameco Stock Soars As The Uranium Sector Blasts Off, Options Traders Pile In – Cameco Corp. (CCJ)

Cameco Stock Soars As The Uranium Sector Blasts Off, Options Traders Pile In – Cameco Corp. (CCJ)

Cameco Corp ( NYSE :CCJ) was skyrocketing up over 8% higher on Friday helping to pull the Global X Uranium ETF ( NYSE :URA) over 9% higher. The Saskatoon-based uranium producer is the world’s largest publicly traded uranium stock with a market cap of $9.9 billion.

The stock is trading down more than 55% from its June 2007 all-time high of $55.97 and in March 2020 it found a bottom at the $5.13 level and reversed upwards.

This September Cameco looks to be breaking up from a bull flag on the monthly chart with the pole created between November 2020 and June 2021 and the flag between June and August. When a pattern is created on a chart using a larger time frame the break from the pattern can be larger […]

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