Chart of Day: Cameco (CCJ)

You are receiving this email because you are subscribed to Daily Guru Trades. If you no longer wish to receive these emails, please unsubscribe here. With tight supply and growing demand for nuclear energy, uranium stocks like Cameco (SYM: CCJ) could push even higher. For one, supply could get even tighter, with the Russian uranium ban starting on August 11. Two, according to Swiss Resource Capital, about 90 new nuclear plants are being planned, 61 are under construction, and decommissioned sites are being revived. Three, with the artificial intelligence boom requiring a good deal of energy, uranium could help fuel the need. AI data centers need a tremendous amount of electricity. According to McKinsey, data center demand could grow about 10% a year.  In addition, CCJ is now oversold on RSI, MACD and Williams' %R. From its last traded price of $47.36, I'd like to see Cameco initially rally back to $55 near term. Helping, analysts at Bank of America added Cameco to its US 1 List. Goldman Sachs raised its price target to $56, with a buy rating. And RBC Capital recently said they'd buy on weakness. Did you miss yesterday's Chart of the Day? Click here to view it now. DC2 Publishing LLC 4260 NW 1st Avenue Suite # 55 Boca Raton, FL 33431 – 4264   Copyright © 2023 Daily Guru Trades, All rights reserved. You are receiving this email as part of your subscription to Daily Guru Trades. If you have any questions, please contact us at support@dailygurutrades.com. Daily Guru Trades is a newsletter offered to the public on a subscription basis. While subscribers receive the benefit of Daily Guru Trades opinions, none of the information contained therein constitutes a recommendation from Daily Guru Trades that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. 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