Previously posted a chart showing a longer play in the Big Picture of Denison Mines
. Here's a short play I noticed a day or two ago and figured I'd share it with everyone. It looks like there's resistance @ 1.27, with 2/3 recent, failed break attempts, including the last candle from Friday's trading day (5/24/2013). Friday's candle takes up its entire space in the wedge
, from top to bottom, closing at the resistance line of 1.27. Also, notice what type of candle it is: strong white candle without a lower shadow; indicating that the buyers (Bulls) were much stronger than sellers (Bears) that day. Now, with the MACD
gaining strength since end of April
, and the Stoch
. showing strong buying since beginning of May, it looks like a breakout is in the forecast for Denison. Although, the wedge
still has 5 days until it is filled. Maybe that won't matter, who knows? Hopefully, Denison has found the floor and can start " mining " a comeback. Happy Trading*, folks.
* (Remember: Market opens Tue. 5/27 b/c of Mem. Day Wknd)