DENISON MINES CORP - 1H - Technical analysis published on 06/25/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 2.03 USD
My targets
1.97 USD (-1.99%)
1.88 USD (-6.47%)
My analysis
The bearish trend is currently very strong for DENISON MINES CORP. As long as the price remains below the resistance at 2.03 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.97 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.88 USD as an objective. Crossing it would then enable sellers to target 1.78 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
DENISON MINES CORP rating 2.01 USD. The price registered a decrease of -0.50% on the session and was traded between 2.00 USD and 2.07 USD over the period. The price is currently at +0.50% from its lowest and -2.90% from its highest.2.00
2.07
2.01
A study of price movements over other periods shows the following variations:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of DENISON MINES CORP indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 13 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Support of triangle is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.78 | 1.88 | 1.97 | 2.01 | 2.03 | 2.12 | 2.22 |
| Change (%) | -11.44% | -6.47% | -1.99% | - | +1.00% | +5.47% | +10.45% |
| Change | -0.23 | -0.13 | -0.04 | - | +0.02 | +0.11 | +0.21 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Major | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.91 | 1.96 | 1.99 | 2.04 | 2.07 | 2.12 | 2.15 |
| Camarilla | 2.00 | 2.01 | 2.01 | 2.02 | 2.03 | 2.04 | 2.04 |
| Woodie | 1.90 | 1.96 | 1.98 | 2.04 | 2.06 | 2.12 | 2.14 |
| Fibonacci | 1.96 | 1.99 | 2.01 | 2.04 | 2.07 | 2.09 | 2.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.84 | 1.93 | 1.97 | 2.06 | 2.10 | 2.19 | 2.23 |
| Camarilla | 1.98 | 2.00 | 2.01 | 2.02 | 2.03 | 2.04 | 2.06 |
| Woodie | 1.83 | 1.92 | 1.96 | 2.05 | 2.09 | 2.18 | 2.22 |
| Fibonacci | 1.93 | 1.98 | 2.01 | 2.06 | 2.11 | 2.14 | 2.19 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.67 | 1.84 | 2.13 | 2.30 | 2.59 | 2.76 | 3.05 |
| Camarilla | 2.29 | 2.34 | 2.38 | 2.42 | 2.46 | 2.50 | 2.55 |
| Woodie | 1.73 | 1.87 | 2.19 | 2.33 | 2.65 | 2.79 | 3.11 |
| Fibonacci | 1.84 | 2.02 | 2.12 | 2.30 | 2.48 | 2.58 | 2.76 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 41.99 | |
| MACD (12,26,9): | -0.0100 | |
| Directional Movement: | -12.83 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 2.03 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.11 | |
| Elder Ray (13): | -0.02 | |
| Super Trend (3,10): | 2.11 | |
| Zig ZAG (10): | 2.02 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 17.96 | |
| TEMA (21): | 2.02 | |
| Williams %R (14): | -77.78 | |
| Chande Momentum Oscillator (20): | -0.04 | |
| Repulse (5,40,3): | -0.8500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0900 | |
| Courbe Coppock: | 3.95 |
| MA7: | 2.07 | |
| MA20: | 2.19 | |
| MA50: | 2.13 | |
| MA100: | 2.04 | |
| MAexp7: | 2.03 | |
| MAexp20: | 2.05 | |
| MAexp50: | 2.07 | |
| MAexp100: | 2.11 | |
| Price / MA7: | -2.90% | |
| Price / MA20: | -8.22% | |
| Price / MA50: | -5.63% | |
| Price / MA100: | -1.47% | |
| Price / MAexp7: | -0.49% | |
| Price / MAexp20: | -1.46% | |
| Price / MAexp50: | -2.42% | |
| Price / MAexp100: | -4.27% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
The latest news and videos published on DENISON MINES CORP at the time of the analysis were as follows:
- Denison Announces Completion of Inaugural ISR Field Test Program at Midwest
- Denison Announces Results of Shareholder Meeting & Appointment of Jennifer Traub as Board Chair
- Denison Reports Financial and Operational Results for Q1 2024
- Denison Announces Filing of Annual Report on Form 40-F
- Denison Announces Signing of Sustainable Communities Investment Agreement
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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