Cameco: the decline resumes with force
Cameco drops 10.8% as the managed sell signal regains momentum
Cameco: the decline resumes with force
Our view last week
Cameco shares closed a nearly flat week (-0.6%) after the 7.6% plunge two weeks back, with sell volume finally easing off the wave that had dominated the tape. In this week's technical analysis, the picture beneath the surface keeps souring: money flow has slid to its lowest point of the period, and the weekly MACD has just turned negative. The daily double bottom in the 93 area is holding, with the short now up more than 8%.
This week's summary
Cameco Corporation's sell signal has been under management for 9 weeks, with the short now more than 18% in profit. After a nearly flat week, the stock is falling hard again: -10.8%, with 80% of volume on the sell side and the weekly MACD just turning negative. Money flow keeps sliding lower and the price is boxed between a support in the 85 area and a resistance in the 90 area, with earnings on July 31 now close.
IQS Phase
69
in tension
Signal Strength
61
decline starting to make lower lows
Sizing
STANDARD
Ranking
#49 / 140
US stocks
Trade P&L %
+18.26%
from signal to today
restricted Platinum content