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Bearish Moving Average Cross by Cameco (CCJ)

By Shiri Gupta

Cameco (NYSE:CCJ) shares have crossed bearishly below their 10-day moving average of $10.51 on a volume of 1.7 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Cameco have traded between the current low of $10.05 and a high of $17.55 and are now at $10.05. The 200-day and 50-day moving averages have moved 0.18% lower and 0.1% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Cameco on May 19th, 2016 by issuing a Downtrend alert when the shares were trading at $11.33. Since that call, shares of Cameco have fallen 6.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses cameco

Ticker(s): CCJ