Denison Mines is breaking out of its 12 years range on massive volume.
The huge demand for clean energy, particularly with AI's exploding growth and needs, means a lot of positive news coming for the nuclear industry.
Coupled with the devaluation of developped markets currencies, this could propulse DNN much higher.
Next resistance is the $4 area, then there...
One must exercise due diligence when engaging with the uranium sector. Currently, we are anticipating a scenario in which Donald Trump is elected President in the near term. The global landscape has evolved since his last tenure, and it is anticipated that he will endeavor to further enhance the United States' energy independence.
Trump's well-documented aversion...
DNN has been in a strong, upward trend since March. Since that time it has surfed the 10 & 20 MA, occasionally touching the 50. It has been consolidating in the 1.70-1.85 range for a month on above average volume. It just bounced strongly off the 50 MA a few days ago. I think the pressure continues to build as the range tightens if it continues in this...
Dennison Mines vs StarBulk Carriers
Dennison is a mid-size uranium producer. StarBulk is a mid-size bulk marine shipper (grain, iron ore, coal ,etc.) The two sectors appear counter-cyclical, opening up an opportunity for a pivot between them. The specific equities chosen (DNN, SBLK) show a reasonably good reputation for not diluting shareholders. The ratio trade...
Uranium Fundamentals and Thematic backdrop set for bullish decade after many years of muted price action in uranium spot prices.
Miners are currently showing capital outlay at prices that are lower than cost of production. (over supply and stockpiles from Cold war and interest in alternative green energies)
Denison is a serious player in the space and will be...
Denison Mines $DNN looks particularly good within the Uranium space.
Stock has already broken above downtrend resistance, and broke out from a little base recently.
Stock is trading above its 10, 20, 50 and 200 day moving averages, all which had converged recently.
DNN has been trading in a Wycoff Distribution structure for well over a year now with declining volume. Shooting Star off the 20W MA followed with bearish continuation should lead to markdown.
Sea lion is sitting at the the beach an patiently waiting for the incoming fish. Fish looks big and tasty, so it should fill his stomach.
Now we have to wait if we exit Sea lion through his backbone line or he will just crap us down to the beach.
IDK still thinking DNN pushes to $2.14 ish b4 an ABC bullish correction and tests the orange U308 futures line. But If U futures dump here then DNN could meet the confluence at lower levels.
My bullish bias is supported by the fact that wave 5 seems to be still underway on the daily. Also Weekly & monthly charts still bullish tilt. & also DNN sitting on mid...
$DNN - Uranium is the few industry group that you would probably find RS over the last 2 wks of market weakness. $UEC and $NXE have already taken off yesterday from their pivot levels.
$DNN currently sits on its VWAP support from last ER, beneath a major pivot. ATR/$ at 7.17%
