After a nearly textbook 38.2% retracement of its October-March rally CCJ is set to resume its uptrend:

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The weekly chart shows that CCJ found support after a standard pullback to previous resistance:


Moreover, today’s 5% rally took place against a backdrop of a steep sell-off in crude oil and continued stagnation at a depressed level in the uranium price. Investors are clearly betting on a much brighter future for nuclear energy in the years ahead and the upside for shares of CCJ from current levels is nothing short of enormous.