Wednesday, September 16, 2009

CCJ Quadruple Top Breakout

Cameco Corp (CCJ) is involved in the uranium mining, nuclear energy, and gold mining industries.

CCJ made highs of $29.60 in June, and $29.53 and $29.66 in August. CCJ is currently up nearly 3.5% for the day to $30.40 on above average volume.

Update (September 21st): The rally has broken down. CCJ looks to close below $29.50. The next major support is at the 50-DMA (about $28), so I sold the stock and took the loss.

Trading history:
September 16th, bought CCJ for $30.30
September 21st, sold CCJ for $29.34 (-96 cents, -3.2%)
Current position: None.

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