TradeThePool

How to swing $DEN for maximum profit

Short
NYSE:DEN   Denbury Inc
Hi traders,
We have a trading idea to offer you in DEN stock.
The idea is an idea based on technical analysis only.
So like this, DEN stock has been converging for over a year and seems to be changing direction to the downside. The simple moving averages support us in the idea and give us confirmation that the trend is changing and we are likely to see a decline soon.

Currently, the moving averages are relatively far from the price action and we would like to see them continue to fall so we can get a shorter stop.

The idea is that there are a lot of stops from buyers from the last year sitting below the support level and once it is broken the orders will be activated and we will see a breakdown of the stock strongly downwards.

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