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Cameco Corporation Stock Forecast NYSE:CCJ

$21.82 (1.11%)

Volume: 7M

Closed: Jan 19, 2022

Hollow Logo Score: 0.287

Cameco Corporation Stock Forecast

$21.82 (1.11%)

Volume: 7M

Closed: Jan 19, 2022

Score Hollow Logo 0.287
Which way will CCJ go? Request
Stop-loss: $20.51 (-6.02%)
Earnings Date: Feb 09, 2022
Key Stats
P/E Ratio -253.54
Beta 1.54
Trailing Dividend Rate 0.37% ($0.0800)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 49 and the stock is currently not being overbought or oversold

Cameco Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jan 19, 2022)


Hold candidate since 2022-01-19 PDF

The Cameco Corporation stock price gained 1.11% on the last trading day (Wednesday, 19th Jan 2022), rising from $21.58 to $21.82. During the day the stock fluctuated 5.19% from a day low at $21.31 to a day high of $22.41. The price has been going up and down for this period, and there has been a -7.7% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $151.13 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.30% during the next 3 months and, with a 90% probability hold a price between $15.56 and $19.50 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, December 20, 2021, and so far it has risen 5.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cameco Corporation stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $22.79 and $22.47. A break-up above any of these levels will issue buy signals.

Support, Risk & Stop-loss

Cameco Corporation finds support from accumulated volume at $21.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.11 between high and low, or 5.19%. For the last week, the stock has had a daily average volatility of 5.10%.

Our recommended stop-loss: $20.51 (-6.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)

Is Cameco Corporation stock A Buy?

Cameco Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.287

Hold/Accumulate Upgraded

Predicted Opening Price for Cameco Corporation of Thursday, January 20, 2022

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price January 20, 2022 Current price
$21.85 $21.82 (Undervalued)

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Analyst Ratings

On Nov 03, 2021 "Bank of America" gave "$32.00" rating for CCJ. The price target was set to $27.01+7.7%.

Volatility and Risk
Daily Average Volatility: 5.10 %
Overall Risk: Very High High Medium Low Very Low
Volatility
5.10 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $24.18
Price: $21.82
Support: $21.58

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 22.95 5.18 %
22.53 3.24 %
22.27 2.05 %
Current price: 21.82
Support 21.42 -1.82 %
21.16 -3.02 %
20.74 -4.95 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 27.19 24.61 %
24.30 11.37 %
24.18 10.82 %
Current price 21.82
Support 21.58 -1.10%
21.15 -3.07%
20.77 -4.81%

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About Cameco Corporation

Cameco Cameco Corporation produces and sells uranium. It operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. This segment also produces fuel bundles or reactor compon... Read more

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