Denison Mines (DML) short play Wedge

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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)
Alright! We've broken through Stage1 of resistance. Denison now needs more Bulls to help fuel the climb; more buying volume. So far, without extraordinary volume spikes, just almost hitting average volume (12), DNN has managed to maintain its position above the resistance level of 1.27. Today's candle indicates strong buyers, stronger than the sellers, in that the opening price of today was also the low of the day. A candle without a lower shadow, having a short upper shadow, is always a good sign. With Gold bottoming out in either May or June (this year it's bottomed in May), and the mining companies always coming out ahead of the precious metals stocks, it looks like the turnaround has come. Keep your fingers crossed. This market is most confusing in FY'13 and can do anything.
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