Cameco Corp: Approaching resistance with respectable momentum (NYSE:CCJ)

by Josh Cameco Corp. ($CCJ) shares are trading at $22.14 per share on a volume of 1,927,810 shares. Shares closed Monday at $20.08, just above the 200 day moving average and have climbed $2.06 (+10.3%) to their present levels. Resistance is sitting at $22.36 which proved a tough level for shares to break above in 2013.

Technicals trading looking for a bullish back drop will note the shallow pull back, shares are moving up from a higher level then the prior sell off. Also from the technical perspective, shares are resolving a reversal chart pattern known and in inverse head and shoulders. Shares are currently over bought, but may be worth watching in the coming days as the key resistance is tested.

52 Week Range $17.27-$22.87 Market Cap 8,731,994,822 Average Volume 1,585,372 Dividend Yield 1.75% Institutional Ownership 64.40% Insider Ownership: 0.00% Percentage of Float Short 0.80% Beta 1.75

Cameco Corp. is engaged in the exploration and development, mining, refining, conversion and fabrication of uranium for sale for generating electricity in nuclear power reactors.

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