Ann: Sweden initiates inquiry to overturn uranium mining ban, page-282

An important week coming for the stock. And maybe for the sector - all U stocks.
.
Like last week, CCJ is testing the waters - which way will it go?
.
Last 4 weeks there has been a pause. As if everyone is waiting. Small excitements and then small despairs. But nothing much happening. This phase usually means small decline, just due to uncertainty. So many stocks are easing down from their recent highs. Nothing alarming yet, as it looks like consolidation. In this time CCJ did new highs, but most ASX U stocks did not get the benefit of that. They are still lingering in the same level for last 4 weeks. So not good from that perspective. It looks like the benefit of Uranium "boom" is becoming selective, there are only some stocks doing very very well. Many others decent gains but not spectacular. And many others, including small to mid-caps, actually in decline. So a very unusual play happening in U sector.
..
AEE is hovering around the 15.5 play for last 1 week - it has decided, that is its consolidation level. So nothing much happening for now. We wait.
.
This is what I have written about U sector in my Weekly Report this week on AGE thread. Anyone more interested in other sectors, general markets, etc, look at my other posts around the weekly report, as I write that on one thread only.
.

• Uranium Sector overview - After doing a high in last 2 weeks, CCJ is at 58.72, its in consolidation mode. Last week, all 5 days were red. This week 3 red and 2 green. Better than last week, but still in red. From a weekly perspective, CCJ dropped from 53.79 to 52.50, around 3%. Overall drop from high is around 10%. My theory is same as last week. Previous times when it has dropped over 10%, it has not ended well. The big drop in July to 35 was another instance. It is toying with that 10% level, just holding the 52 level. Next play is important. I feel it may define short to medium play leading up to January. Will it fail 52, and test 45, or will 52 hold and it is back on track for another high? Best not to assume anything but follow price action. U macro still very strong. Spot price is not helping to give momentum. After reaching 106 in January, last several months it is just around 80/85 range. This week lost the psychological 80 level. Last week at 81.05, this week at 78.75. So something not right. If CCJ 10% is breached, and with spot price going down, a drop towards 45 of 20% may be on the cards in the short term. U macro is still strong, but in U sector, sentiment and lot of other plays happen which make the sector very volatile, big gains and big drops. Something to look out for