Cameco Inc. (October 2023)

Our Chart of the Day is intended to be a standalone technical chart. We use them to highlight open positions, stocks on our watch list, or indicators that we believe are important, or just interesting at the time. It is not a directional market call. Feel free to share them with others who may be interested.

• Cameco (Left Chart) is the world's number two provider of the most important energy source in the world, so I thought it could qualify for a Macro Monday, Chart of the Day.

• Our ACB on the current position is $51.50, but we've traded around the position and have been in the stock since ~ $38.

• We are now at the bottom of Cameco’s 20-yr average seasonal low (Chart on right) at a time when Uranium prices are being pressured higher by utility under supply.

• Will seasonality play out this year?