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Shares of Cameco Fall Below Previous 52-Week Low

By Nick Russo

Shares of Cameco (NYSE:CCJ) traded at a new 52-week low today of $8.04. This new low was reached on below average trading volume as 413,000 shares traded hands, while the average 30-day volume is approximately 1.9 million shares.

Cameco share prices have moved between a 52-week high of $17.55 and the current low of $8.04 and are currently at $8.05 per share. The 200-day and 50-day moving averages have moved 0.18% lower and 0.1% lower over the past week, respectively.

Cameco has overhead space with shares priced $8.05, or 55.5% below the average consensus analyst price target of $18.10. Cameco shares should first meet resistance at the 50-day moving average (MA) of $12.49 and find additional resistance at the 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 28.3%. 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