Cameco Corp (CCJ) acts well today, in sympathy with the industrial, strategic, and rare metals sectors. Let's notice the CCJ spiked to within $0.07 of fully testing its prior, significant high at 26.89 from August 4. Right now, the weight of evidence of my technical work argues for upside penetration of 26.89 on the way to an interim high of 127.10/30 next.

As long as any forthcoming weakness is contained in the 26.40/20 area, we will continue to stay long in our MPTrader model portfolio.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.