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 and more powerful: A break from an hourly bull flag may last only an hour or two […]
Click here to view original web page at www.benzinga.com
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Come and join our community. Expand your network and get to know new people!