Cameco: the decline holds, four lower highs in a row
Cameco stock slips 1.7% as the decline keeps printing lower highs
Cameco: the decline holds, four lower highs in a row
Our view last week
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.
This week's summary
Cameco stock's price action prints four straight lower highs on the daily chart, from the 98 area down to 92: the sequence confirms the decline still holds direction. After last week's stabilization attempt the stock gave back 1.7%, with sellers back to 65% of volume and money flow still in distribution. Earnings land today, a possible trigger for near-term volatility.
IQS Phase
78
in tension
Signal Strength
20
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#51 / 138
US stocks
Trade P&L %
+17.54%
from signal to date, no stop loss
Rank position
ranks 51st among the 138 sell signals for US stocks in our ranking, with a signal strength of 20 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimeweak phase
Performanceweekly -1.62% · monthly -1.16%
CCJ belongs to the materials sector (reference ETF XLB). The sector is classified weak phase according to our weekly reading.
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