Cameco Corporation (CCJ), a leading global producer of uranium, plays a pivotal role in the nuclear energy supply chain, mining and refining uranium. Headquartered in Canada, the company benefits from long-term contracts and a strong position in an industry poised for growth amid rising demand for clean, reliable energy. We will look at the long term Elliott Wave path in this blog.
Cameco ($CCJ) Monthly Elliott Wave chart
The monthly Elliott Wave chart for Cameco (CCJ) reveals that the stock completed a major long-term correction, labeled wave (II), at a low of $5.17. From this base, Cameco has initiated a new bullish cycle with substantial upside potential in the coming years. The stock is currently advancing in wave (III). From the wave (II) low, wave I peaked at $62.55. Wave II pullback followed to $35 in April 2025. The stock has since nested higher into wave III. Another leg up is expected to complete wave ((1)) of III. A subsequent pullback in wave ((2)) should follow before the uptrend resumes.
$CCJ daily Elliott Wave chart
