Cameco - Major Support Bounce

Cameco broke down hard in March, and I remarked to someone then that it might well not find much support until it reached the 26 area. Here's the chart I was looking at and here's how that looks today:

Cameco's something of a problem child company, and the nuclear problems in Japan have taken the shine off uranium and nuclear power for a while, but as a long here downside looks minimal and the upside target would be in the 46-50 area.

I'm a uranium bull over the longer term so this looks a very compelling long here.