My last prediction held steady; we saw a breakout near when predicted (see related ideas).
However, it met resistance at $1.32 and fell again, coupled with $CCJ announcing the reopening of Cigar Lake, which took the entire sector down a few percentage points.
However, the lower-half of the triangle held strong. This brought forth a new pattern, which is...
Break out will depend on a U3O8 spot price and market conditions. Since Cameco had announced an emergency restart due to very low inventory of available metal and their contractual obligations it is just a matter of a very short period of time b4 spot price will start moving up North. DNN will be one of the lowest cost producers when they start mining. This...
DNN looked like it was forming a bullish pennant, but it had a huge retracement so it was a little iffy. Now it looks like its forming a ascending triange. Its also sitting right on top of fibonacci support, and i think if we hold that, it'll push the price to breakout of the triangle. Its had good volume on these breakouts and nice consolidation at lower levels....
DNN, 4h, This right-angled consolidation contains some scrubby harmonics excluded, so the headline here is the formation of higher lows on all 3 momentum oscs - MACD, RSI & Stoch - while the asset has held $1 essentially during. Continuation inferred by the Class B bullish divergence across the trio coupled with seller exhaustion makes a break of the 1.32 region...
This thing has loved tapping and rejecting 1.30. Anything below ~$1.20 is a good buy; set your sell limit to $1.30. If it finally holds above $1.30, the upside will be massive.
THIS IS A MONTHLY ARC SINCE 2008. PERSPECTIVE OF DNN POTENTIAL PRICE TARGET. I BELIVE THAT WE WILL OVERSHOOT $14 PER SHARE THIS TIME AROUND WITH U308 DEFICIT AND HIGH DEMAND
DNN has been holding well the last 4 days. More buyer than sellers but not much. We need to break above the resistance level and then move above $1.30. Ichimoku cloud needs to turn green for an uptrend move. Looking good IMHO.
Uranium sector is consolidating at this point and time and is gaining a momentum for a new move. Fundamentals are strong with 60 millions pounds deficit. DNN will be the largest and resource of U3O8 in the world. Smart move by scooping up physical metal from a market is just accelerating the inevitable. Bullish pennant is just another confirmation that it is...
$DNN is a long-term hold (see DDs from others), but there is some encouragement in the short term as we are seeing $DNN nearing the end of a pennant pattern. As of writing, the price is dangerously close to the bottom edge. If support is there, we will see significant upward movement in the coming weeks. Arrow is purely to emphasize direction, not PT.
Denison Mines is a uranium exploration & development company located in Toronto, Canada. They own 90% of the Wheeler River Project, which is the largest undeveloped uranium project in the eastern portion of the Athabasca Basin region in northern Saskatchewan, Canada.
They just raised $86.3m to buy physical uranium as an investment, which is tightening up the...
I am trying out charting and this is my take on DNN.
As off today it is currently dipping and trading @ 1.09.
It would like your take on the chart and analysis.
