Cameco – Nope

by JDH on November 25, 2006

Recommendation: You should have sold this one a long time ago

My apologies to anyone who owns this one. Their mine is flooded, and technically the chart looks lousy.

The triple top back in April, May and June (see red circles) was the obvious sell point. The non-confirmation at the start of September was the finally clue, which is what stared this latest downtrend (see red line).

An optimist could argue that the down-trend line has been broken. The MACD also looks good.

I’m not convinced. I’ll start buying again when it gets over $50.

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