Mar. 4 at 3:22 PM
$CCJ: 50-DAY MA HELD LIKE A CHAMP – Bounce Confirmed
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Textbook technicals. Uranium leader just did exactly what it was supposed to do.
📊 THE SETUP:
✅ 50-Day MA support: Held perfectly at ~
$112.60 (current 50-day MA) . Rejected it twice? No. Respected it and bounced.
✅ Close strong: March 2 close at
$125.92 (+6.4% on the day) . Follow-through is real.
✅ Current price:
$117.79 (Mar 3 pullback) but structure remains intact .
🔥 WHY IT WORKS:
• Institutional backing: 70.21% institutional ownership. Vanguard, Norges Bank, TD Asset Management all adding .
• Earnings beat: Q4 EPS
$0.36 vs
$0.29 est. Revenue
$874.6M vs
$782.1M est.
• Uranium tailwind: Spot price holding near
$88/lb. India just signed
$2.6B supply deal (2027-2035) .
🎯 THE TRADE:
• Entry: Already in? Hold. New entry? Wait for break above today's close (~
$118) .
• Target: Retest of recent highs
$135.24 (Jan 2026 peak) .
Verdict: Swing trade confirmed. Add on strength.