CCJ is "En Fuego," the stock is just a machine right now. Uranium prices are soaring and CCJ is benefitting nicely. So today, the stock broke through the Ascending Channel I drew so now what can we surmise from the chart? Let's take a look:
It looks like the stock has found a new base to jump off from (see Blue area), so we could (not a recommendation) buy here, and set a 1% Swing trade trailing stop and see how high this could go.
Let's look at yesterday's suggestion, ZHNE. I stated that there was heavy insider buying, and a classic three Green Arrow signal. I got in today, so let's see what happened:
BIG pop relatively speaking. Sure, it was only $0.16, but on a $1.33 stock, that represents a 12% move. That's pretty big, and look at the volume the last two days. The stock also smashed through the 200 DMA which now becomes support. Something BIG seems ready to happen here, hopefully something GOOD!
A couple of more plays I am interested in:
BBY
SBUX
Until next time...Happy Trading!
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