- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
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Thursday, 19 May 2011

Cameco - Major Support Bounce

Cameco broke down hard in March, and I remarked to someone then that it might well not find much support until it reached the 26 area. Here's the chart I was looking at and here's how that looks today:
Cameco's something of a problem child company, and the nuclear problems in Japan have taken the shine off uranium and nuclear power for a while, but as a long here downside looks minimal and the upside target would be in the 46-50 area.

I'm a uranium bull over the longer term so this looks a very compelling long here.

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