Keep an eye on beaten-down shares of Cameco (CCJ).
After dropping from about $51 to $41, the uranium stock caught support dating back to early January. It’s also over-extended on RSI, MACD, and Williams’ %R. Plus, with the current supply-demand situation over uranium, the stock could push higher again.
Governments all over the world are quickly realizing that uranium is key to a greener future, which they all say they’re fighting for. Plus, according to the World Nuclear Association, demand for nuclear reactors could climb about 28% by 2030.
In addition, the world’s largest producer of uranium again warned its output numbers could be worse than expected. As noted by Seeking Alpha, “Kazakh uranium miner Kazatomprom, which produces ~20% of the world’s uranium, said it will produce only 80% of its permitted maximum uranium output allowed under Kazakh subsoil usage contracts, instead of the previously announced 90% level.”
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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