This uranium play is toying with a breakout to a 20-year high, says Carter Worth
It’s game time for the world’s largest publicly traded uranium company, Cameco (CCJ) . Two simple charts below. Short term: CCJ 2-Year Daily Bar Chart And… Long-term: CCJ 20-Year Monthly Bar Chart “The lines draw themselves.” The stock is at a major inflection point, toying not only with the prospect of a breakout near-term, to a new 52-week high (see the 2-year chart), but also toying with the prospect of a breakout to a new 20-year high and all-time high (see the 20-year chart). We’re buyers here. Our price objective is $65+/-. -Carter Braxton Worth For actionable recommendations via email and live nightly videos become a member at worthcharting.com DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
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