Cameco: the decline slows, earnings days away
Cameco rebounds 2.6% and carves a double bottom as earnings draw near
Cameco: the decline slows, earnings days away
Our view last week
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.
This week's summary
Cameco's Sell signal has been under management for 9 weeks, with the short above 16% in profit. After last week's 10.8% plunge the stock is trying to stabilize: +2.6%, with a clean double bottom forming in the 85 area as sellers ease back to 55% of volume. Cameco stock stays boxed between support and resistance, with earnings landing this very week.
IQS Phase
77
in tension
Signal Strength
46
isolated weekly drop
Sizing
REDUCED
Ranking
#41 / 141
US stocks
Trade P&L %
+16.12%
from signal to today
Rank position
ranks 41st among the 141 sell signals for US stocks in our ranking, with a signal strength of 46 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimein positive regime
Performanceweekly +1.44% · monthly +0.20%
CCJ belongs to the materials sector (reference ETF XLB). The sector is classified in positive regime according to our weekly reading.
restricted Platinum content