Cameco (CCJ) Shares Enter Oversold Territory | Commodities
In trading on Monday, shares of Cameco Corp. (Symbol: CCJ) entered into oversold territory, altering fingers as low as $35 per share. We outline oversold territory utilizing the Relative Strength Index, or RSI, which is a technical evaluation indicator used to measure momentum on a scale of zero to 100. A stock is taken into account to be oversold if the RSI studying falls under 30.
In the case of Cameco Corp., the RSI studying has hit 29.9 — by comparability, the universe of metals and mining stocks lined by Metals Channel at the moment has an average RSI of 37.2, the RSI of Spot Gold is at 7.8, and the RSI of Spot Silver is presently 11.3.
A bullish investor might take a look at CCJ’s 29.9 studying as a signal that the latest heavy promoting is within the course of of exhausting itself, and start to search for entry level alternatives on the buy aspect.
Looking at a chart of one 12 months efficiency (under), CCJ’s low level in its 52 week vary is $35 per share, with $62.55 because the 52 week high level — that compares with a final trade of $37.29. Cameco Corp. shares are at the moment trading down about 0.5% on the day.
Click right here to search out out what 9 different oversold dividend stocks you need to find out about »
Also see:
LATM Historical Stock Prices
EDOC shares excellent historical past
Top Ten Hedge Funds Holding PCEFThe views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
Stay up to date with the latest news within the commodities markets! Our web site is your go-to source for cutting-edge commodity news, market trends, insights, and updates on key assets. We present each day updates to make sure you have entry to the freshest data on commodity actions, industry efficiency, provide and demand shifts, and main market bulletins.
Explore how these trends are shaping the longer term of world commodities! Visit us repeatedly for essentially the most participating and informative content material by clicking right here. Our rigorously curated articles will keep you knowledgeable on market shifts, investment methods, commodity evaluation, and pivotal moments within the world of assets.
