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Cameco Looks to Continue to Trade Below its Annual-Low Share Price Today

By Shiri Gupta

Cameco (NYSE:CCJ) traded at a new 52-week low today of $9.36. Approximately 549,000 shares have changed hands today, as compared to an average 30-day volume of 1.9 million shares.

In the past 52 weeks, Cameco share prices have been bracketed by a current low of $9.36 and a high of $17.55 and are now at $9.37. The 200-day and 50-day moving averages have moved 0.18% lower and 0.1% lower over the past week, respectively.

Cameco (NYSE:CCJ) has potential upside of 93.3% based on a current price of $9.37 and analysts' consensus price target of $18.10. The stock should find initial resistance at its 50-day moving average (MA) of $12.49 and further resistance at its 200-day MA of $12.68.

Cameco Corporation explores for, develops, mines, refines, converts, and fabricates uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company also operates the Bruce B nuclear reactors in Ontario, as well as through a subsidiary, explores for, develops, mines, and sells gold.

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 15.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows cameco

Ticker(s): CCJ