$DNN (REQUESTED ANALYSIS - I hold no position)
Alright @TradeandGrow so this is what I am seeing...
First of all the nearest support is at 0.93 so if you did want to add a little bit, I would add there... and keep an eye at that level - it might bounce... but if it doesn't...
The next support after that is down at .61 so if there was ever a place to average down that would be it...
There are a few levels under that and I would stick to only adding at support (.32 & .20) I'm not saying that it will go that low, but those would be the levels to watch for...
Next, the RSI is 45 (on the weekly chart) which is good... the LOWEST that it has gone since the crash in march last year is 38.
And lastly, if you think it's going to 1.6 then I found some really cheap December $1 call options... If you trade options I'd take a look at that.
Overall I do like this chart and I'll add alerts to it and follow up.
I hope this helps ☺️ GL
First of all the nearest support is at 0.93 so if you did want to add a little bit, I would add there... and keep an eye at that level - it might bounce... but if it doesn't...
The next support after that is down at .61 so if there was ever a place to average down that would be it...
There are a few levels under that and I would stick to only adding at support (.32 & .20) I'm not saying that it will go that low, but those would be the levels to watch for...
Next, the RSI is 45 (on the weekly chart) which is good... the LOWEST that it has gone since the crash in march last year is 38.
And lastly, if you think it's going to 1.6 then I found some really cheap December $1 call options... If you trade options I'd take a look at that.
Overall I do like this chart and I'll add alerts to it and follow up.
I hope this helps ☺️ GL
YouTube Channel www.youtube.com/@spyderqueentrading (Almost DAILY updates, come play)
I am not your financial advisor.
I am not your financial advisor.