I believe CCJ is on the recovering mode and may be heading back up to stardom pretty soon.
The daily CCJ chart below showed that downtrend pitchfork (white color) has been broken and is on track staying with the uptrend pitchfork (purple color). Today up bar looks strong and I like to see it close above the 89 ema.
Below is the hourly CCJ chart. Notice that it took out the multiple pivot high of the previous downtrend.
Below is the weekly CCJ chart. Look like an upward basing slope is forming.
Today, I invested 13% in uranium based stocks that included CCJ, DNN, and USU.
Oh… this is for my trading journal. Don’t listen to me since I will dump the uranium stocks without blinking if I see a major market correction coming.
Don’t forget to trade with discipline and follow the price action.
Good Hunting!
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Trading Journal update:
Added more DNN and reduced size on USU
Bought ES to supplement my uranium portfolio which is now 17% of my overall portfolio.
Added a bit more CCJ due to price action taking out the R2 line.
Trading journal update:
Added more CCJ, DNN, ES, and USU this morning.
Uranium based stocks are now 26% of my portfolio.
Trading journal update:
Sold all my uranium stocks to lock in profit.
FLAT on CCJ, DNN, ES, USU
Will keep an eye for possible re-entry.
Forgot to mention, CCJ, DNN, ES all took out their previous bar low which triggered the BW’s bearish divergent sell signals. Hence, my taking profit. I was tempted to jump the gun on Friday but decided to stay with the trading plan.
Bought back some CCJ, DNN, and ES due to strong recovering intra-day rally.
Trading journal update:
Bought back CCJ due to price taking out the fractal buy signal on a 5m chart.. No DNN or ES. Just plain old CCJ.