NYSE · EQUITY · ENHANCED MARKET DYNAMICS

CCJ

Cameco Corp

US · Energy · Uranium

Open Chart Terminal

EMD SCORE28/100

CURRENT COMPLETED-WEEK READ

Defensive

The latest completed-week readings are broadly cautious. Conditions are cautious and have weakened over the latest four completed weeks.

Deterioration67% directional agreement89/100 evidence quality6/6 sources available

Completed week: 25 Sep 2026
Latest close: USD 88.07
Evidence: 156 weeks

Four-week EMD change-18.5 pts

signed chart scale −100 to +100

Four-week price-11.9%

completed closing prices

Current directional run17 weeks

on the same side of EMD zero

Recent consistency0/13

recent readings above zero

COMPLETED-WEEK OVERVIEW

Price and market conditions over time

1 supportive · 5 cautious

Enhanced Market Dynamics and the price cycle156 completed weeks · bars use the left EMD axis; price uses the right axis.

6 Oct 2023–25 Sep 2026

Constructive EMDCautious EMDCompleted-week priceUp-cycle confirmationDown-cycle confirmation

Confirmation markers describe price-zone departures within this saved history. Earlier markers can change as the history changes; they are not a record of signals available in real time.

Cycle position 67%Current EMD -43.34-week EMD change -18.5Full saved history price range USD 36.19–124.04

View chart values · 156 observations

Week	Close · USD	EMD −100 to +100	Score /100	Agreement %	Coverage %
2023-10-06	37.46	73.71	87	100	83
2023-10-13	36.19	59.45	80	60	83
2023-10-20	37.96	73.52	87	100	83
2023-10-27	37.71	53.04	77	67	100
2023-11-03	41.70	71.42	86	100	100
2023-11-10	42.25	73.65	87	100	100
2023-11-17	44.34	75.09	88	100	100
2023-11-24	44.86	73.68	87	100	100
2023-12-01	45.22	70.6	85	100	100
2023-12-08	44.91	68.38	84	100	100
2023-12-15	44.78	56.17	78	67	100
2023-12-22	43.45	49.49	75	67	100
2023-12-29	42.93	51.67	76	100	100
2024-01-05	42.08	50.51	75	100	100
2024-01-12	49.72	73.11	87	100	100
2024-01-19	46.81	54.49	77	67	100
2024-01-26	46.18	56.84	78	67	100
2024-02-02	48.82	72.44	86	100	100
2024-02-09	43.89	33.34	67	60	100
2024-02-16	42.01	19.95	60	20	100
2024-02-23	40.03	-0.72	50	33	100
2024-03-01	41.81	10.68	55	20	100
2024-03-08	41.07	-10.86	45	60	100
2024-03-15	40.95	-6.36	47	50	100
2024-03-22	43.02	8.87	54	20	100
2024-03-29	43.15	4.39	52	0	100
2024-04-05	49.02	47.84	74	67	100
2024-04-12	49.40	49.37	75	100	100
2024-04-19	47.91	50.48	75	100	100
2024-04-26	49.16	59.86	80	100	100
2024-05-03	48.22	48.26	74	100	100
2024-05-10	50.71	56.49	78	100	100
2024-05-17	52.84	69.46	85	100	100
2024-05-24	52.78	65.85	83	100	100
2024-05-31	55.29	73.86	87	100	100
2024-06-07	53.19	64.42	82	100	100
2024-06-14	51.70	55.1	78	100	100
2024-06-21	51.37	50.29	75	100	100
2024-06-28	49.01	25.25	63	60	100
2024-07-05	49.73	26.63	63	100	100
2024-07-12	52.66	43.84	72	100	100
2024-07-19	46.45	-2.2	49	20	100
2024-07-26	45.01	-5.75	47	33	100
2024-08-02	37.88	-39.91	30	67	100
2024-08-09	39.39	-20.99	40	33	100
2024-08-16	40.10	-26.95	37	33	100
2024-08-23	42.44	-23.41	38	33	100
2024-08-30	40.68	-30.66	35	60	100
2024-09-06	36.81	-40.52	30	67	100
2024-09-13	40.17	-25.79	37	33	100
2024-09-20	44.23	-16.46	42	20	100
2024-09-27	47.79	-1.18	49	20	100
2024-10-04	51.64	23.26	62	100	100
2024-10-11	51.15	15.55	58	60	100
2024-10-18	57.79	53.91	77	100	100
2024-10-25	53.58	28.68	64	67	100
2024-11-01	52.29	27.8	64	67	100
2024-11-08	52.33	27.54	64	60	100
2024-11-15	53.38	32.13	66	100	100
2024-11-22	59.87	72.06	86	100	100
2024-11-29	59.33	67.63	84	100	100
2024-12-06	60.94	71.04	86	100	100
2024-12-13	54.18	38.9	69	60	100
2024-12-20	52.34	30.22	65	60	100
2024-12-27	52.39	28.11	64	60	100
2025-01-03	53.02	32.77	66	100	100
2025-01-10	49.14	2.12	51	20	100
2025-01-17	51.53	15.5	58	20	100
2025-01-24	55.89	36.41	68	67	100
2025-01-31	49.34	4.06	52	0	100
2025-02-07	49.83	12.63	56	33	100
2025-02-14	47.10	-11.45	44	60	100
2025-02-21	43.39	-35.68	32	67	100
2025-02-28	43.95	-30.36	35	60	100
2025-03-07	41.75	-34.07	33	60	100
2025-03-14	42.39	-28.14	36	33	100
2025-03-21	44.44	-23.81	38	50	100
2025-03-28	41.75	-39.13	30	67	100
2025-04-04	37.76	-43.33	28	67	100
2025-04-11	40.76	-26.93	37	33	100
2025-04-18	41.10	-36.88	32	60	100
2025-04-25	43.90	-21.59	39	20	100
2025-05-02	46.92	-9.08	45	0	100
2025-05-09	50.63	12.74	56	33	100
2025-05-16	51.17	9.17	55	50	100
2025-05-23	58.57	54.55	77	100	100
2025-05-30	58.42	41.85	71	67	100
2025-06-06	60.30	58.65	79	100	100
2025-06-13	66.53	65.43	83	100	100
2025-06-20	68.14	61.22	81	67	100
2025-06-27	73.13	78.05	89	100	100
2025-07-04	73.31	77.7	89	100	100
2025-07-11	72.56	75.42	88	100	100
2025-07-18	78.82	81.45	91	100	100
2025-07-25	79.44	80.07	90	100	100
2025-08-01	72.79	60.75	80	67	100
2025-08-08	76.77	75.75	88	100	100
2025-08-15	75.45	66.32	83	100	100
2025-08-22	74.76	66.95	83	100	100
2025-08-29	77.24	67.58	84	100	100
2025-09-05	75.70	62.42	81	100	100
2025-09-12	77.96	61.96	81	100	100
2025-09-19	86.01	76.76	88	100	100
2025-09-26	85.41	69.3	85	100	100
2025-10-03	84.00	65.25	83	100	100
2025-10-10	86.48	59.99	80	67	100
2025-10-17	86.42	50.33	75	67	100
2025-10-24	87.96	69.13	85	100	100
2025-10-31	102.01	79.2	90	100	100
2025-11-07	92.08	61.73	81	67	100
2025-11-14	84.59	52.39	76	67	100
2025-11-21	79.28	38.6	69	60	100
2025-11-28	88.34	51.74	76	100	100
2025-12-05	91.27	45.4	73	60	100
2025-12-12	91.49	46.73	73	60	100
2025-12-19	89.99	48.19	74	60	100
2025-12-26	92.84	46.35	73	60	100
2026-01-02	98.56	60.23	80	100	100
2026-01-09	107.56	65.58	83	100	100
2026-01-16	116.44	74.13	87	100	100
2026-01-23	124.04	77.96	89	100	100
2026-01-30	123.39	63.58	82	67	100
2026-02-06	113.63	62.03	81	67	100
2026-02-13	112.90	59.68	80	67	100
2026-02-20	121.35	73.55	87	100	100
2026-02-27	118.40	65.94	83	100	100
2026-03-06	109.68	52.89	76	67	100
2026-03-13	107.92	50.94	75	67	100
2026-03-20	101.55	38.69	69	67	100
2026-03-27	103.92	36.64	68	60	100
2026-04-03	112.57	48.68	74	67	100
2026-04-10	116.04	46.1	73	60	100
2026-04-17	120.66	50.56	75	67	100
2026-04-24	122.15	52.33	76	100	100
2026-05-01	120.60	53.34	77	100	100
2026-05-08	116.75	39.43	70	60	100
2026-05-15	107.51	13.92	57	50	100
2026-05-22	104.75	4.41	52	0	100
2026-05-29	112.70	24.26	62	60	100
2026-06-05	103.44	-4.67	48	50	100
2026-06-12	100.96	-13.95	43	50	100
2026-06-19	106.49	-1.36	49	0	100
2026-06-26	104.49	-10.35	45	50	100
2026-07-03	96.54	-29.79	35	67	100
2026-07-10	95.99	-28.15	36	60	100
2026-07-17	85.62	-43.52	28	67	100
2026-07-24	87.86	-38.55	31	60	100
2026-07-31	86.38	-41.72	29	67	100
2026-08-07	97.39	-21.5	39	20	100
2026-08-14	97.74	-25.25	37	33	100
2026-08-21	102.51	-9.99	45	0	100
2026-08-28	100.01	-24.83	38	33	100
2026-09-04	100.74	-15.01	42	20	100
2026-09-11	96.68	-29.88	35	60	100
2026-09-18	91.62	-37.9	31	67	100
2026-09-25	88.07	-43.29	28	67	100

SIX SOURCES · LAST 26 OBSERVATIONS

Is support broadening or thinning?

Green is supportive, rose is cautious.
Grey means the reading is unavailable.

Reading	3 Apr	10 Apr	17 Apr	24 Apr	1 May	8 May	15 May	22 May	29 May	5 Jun	12 Jun	19 Jun	26 Jun	3 Jul	10 Jul	17 Jul	24 Jul	31 Jul	7 Aug	14 Aug	21 Aug	28 Aug	4 Sep	11 Sep	18 Sep	25 Sep
Trend	98	99	99	99	99	96	74	61	87	54	11	25	17	3	3	0	0	0	5	6	17	12	15	7	3	2
Momentum	78	80	82	78	71	65	44	36	48	43	46	67	49	39	39	25	24	26	45	62	67	60	56	47	28	26
Underlying pressure	37	33	39	45	47	49	44	35	29	23	22	23	24	23	22	21	18	17	18	18	22	28	32	37	40	36
Price & volume	58	55	58	45	55	42	31	47	60	31	52	45	41	38	50	30	47	43	68	44	66	31	63	39	40	31
Relative strength	99	99	99	99	97	91	66	50	71	44	32	47	48	16	12	3	5	4	11	11	23	16	17	11	6	3
Modeled Trend	91	90	90	90	90	90	89	89	88	88	88	87	84	82	79	77	74	72	69	66	62	61	58	58	58	58

Each cell is a finished component score from 0–100. Components can disagree even when the combined reading stays positive.

STRONGEST CURRENT SOURCE

Modeled Trend

58/100

LEAST SUPPORTIVE SOURCE

Trend

2/100

WHAT WOULD CHANGE THE READ?

Three paths to keep in view

Conditional research scenarios.
No assumed price target or timing.

Continuation

Price and evidence stay together

Further price weakness alongside cautious trend, pressure and relative strength would support the current defensive read.

Change of direction

Repair needs follow-through

Improving EMD while price still falls is an early observation. A turn in price and broader agreement would strengthen a repair case.

Cycle context

A range extreme is a location

An upper zone can persist during a strong advance; a lower zone can persist during a decline. Use departures, EMD direction and the related price charts together.

EARLIER COMPARABLE READINGS

What followed similar conditions?

Same ticker · similar score and direction of change.
Returns exclude costs and dividends.

4 WEEKS LATER+6.3%

Median price return · 6 non-overlapping examples

Observed range: -10.5% to +40.3%
Positive returns: 83%
All-period comparison: +1.4% median

13 WEEKS LATER

Too few comparisons

2 non-overlapping examples. At least three are needed to display a summary.

How these comparisons are selected

Earlier observations must have the same constructive/fading/repair/deterioration condition, a score within ten points of today’s score and at least the same component coverage. The first 30 observations are omitted for warm-up; examples are spaced by the forward horizon to avoid overlap. Gapped return windows are excluded. The all-period comparison uses the same available history and spacing, without matching the current state. These are reconstructed observations, not a point-in-time strategy backtest or a forecast.

RECENT CYCLE HISTORY

How the current reading developed

11 Sep 2026Down-cycle confirmedUSD 96.68

17 Jul 2026Down-cycle confirmedUSD 85.62

23 May 2025Upper cycle zone confirmedUSD 58.57

25 Apr 2025Up-cycle confirmedUSD 43.90

4 Apr 2025Lower cycle zone confirmedUSD 37.76

31 Jan 2025Down-cycle confirmedUSD 49.34

10 Jan 2025Down-cycle confirmedUSD 49.14

11 Oct 2024Upper cycle zone confirmedUSD 51.15

THE FULL PRICE CYCLE

Follow the journey from one zone to the other

Cycle states use trailing completed-week observations.

Lower zone

Price establishes residence near the bottom of its long-cycle range. Improving EMD separates early repair from continued deterioration.

Upward journey

Price leaves the lower zone while EMD confirms improving participation. The objective is the broader move toward the upper zone, not a short weekly trade.

Upper zone

Price establishes residence near the top of its long-cycle range. A high range position can persist. Watch EMD for exhaustion and loss of support before interpreting it as a turn.

Downward journey

Price leaves the upper zone while EMD weakens. The reverse cycle remains active until lower-zone residence is confirmed again.

CURRENT READINGS