DENISON MINES CORP - 1H - Technical analysis published on 08/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
78%
0%
22%
My opinion
Bullish above 1.51 USD
My targets
1.66 USD (+4.40%)
1.79 USD (+12.58%)
My analysis
The current short-term bullish acceleration on DENISON MINES CORP should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 1.51 USD. Short-term buyers will use the resistance located at 1.66 USD as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 1.79 USD. Crossing this resistance would then open the door for buyers to target 1.97 USD. Caution, if there is a return to under 1.51 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
3.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The DENISON MINES CORP rating is 1.59 USD. The price has increased by +3.92% since the last closing with the lowest point at 1.53 USD and the highest point at 1.61 USD. The deviation from the price is +3.92% for the low point and -1.24% for the high point.1.53
1.61
1.59
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of DENISON MINES CORP in 1H shows a neutral overall trend. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.64 | 0.95 | 1.50 | 1.59 | 1.66 | 1.79 | 1.97 |
| Change (%) | -59.75% | -40.25% | -5.66% | - | +4.40% | +12.58% | +23.90% |
| Change | -0.95 | -0.64 | -0.09 | - | +0.07 | +0.20 | +0.38 |
| Level | Minor | Major | Major | - | Minor | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.47 | 1.49 | 1.51 | 1.53 | 1.55 | 1.57 | 1.59 |
| Camarilla | 1.52 | 1.52 | 1.53 | 1.53 | 1.53 | 1.54 | 1.54 |
| Woodie | 1.47 | 1.49 | 1.51 | 1.53 | 1.55 | 1.57 | 1.59 |
| Fibonacci | 1.49 | 1.51 | 1.52 | 1.53 | 1.55 | 1.56 | 1.57 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.18 | 1.30 | 1.39 | 1.51 | 1.60 | 1.72 | 1.81 |
| Camarilla | 1.42 | 1.44 | 1.46 | 1.48 | 1.50 | 1.52 | 1.54 |
| Woodie | 1.17 | 1.29 | 1.38 | 1.50 | 1.59 | 1.71 | 1.80 |
| Fibonacci | 1.30 | 1.38 | 1.43 | 1.51 | 1.59 | 1.64 | 1.72 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.26 | 1.54 | 1.75 | 2.03 | 2.24 | 2.52 | 2.73 |
| Camarilla | 1.84 | 1.88 | 1.93 | 1.97 | 2.02 | 2.06 | 2.11 |
| Woodie | 1.24 | 1.52 | 1.73 | 2.01 | 2.22 | 2.50 | 2.71 |
| Fibonacci | 1.54 | 1.72 | 1.84 | 2.03 | 2.21 | 2.33 | 2.52 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 62.22 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 10.62 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 1.55 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.50 | |
| Elder Ray (13): | 0.03 | |
| Super Trend (3,10): | 1.60 | |
| Zig ZAG (10): | 1.59 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 77.65 | |
| TEMA (21): | 1.57 | |
| Williams %R (14): | -25.00 | |
| Chande Momentum Oscillator (20): | 0.06 | |
| Repulse (5,40,3): | 2.5600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 5.04 |
| MA7: | 1.54 | |
| MA20: | 1.74 | |
| MA50: | 1.96 | |
| MA100: | 2.04 | |
| MAexp7: | 1.57 | |
| MAexp20: | 1.54 | |
| MAexp50: | 1.57 | |
| MAexp100: | 1.66 | |
| Price / MA7: | +3.25% | |
| Price / MA20: | -8.62% | |
| Price / MA50: | -18.88% | |
| Price / MA100: | -22.06% | |
| Price / MAexp7: | +1.27% | |
| Price / MAexp20: | +3.25% | |
| Price / MAexp50: | +1.27% | |
| Price / MAexp100: | -4.22% |
Quotes :
-
15 min delayed data
-
NYSE MKT Stocks
News
The latest news and videos published on DENISON MINES CORP at the time of the analysis were as follows:
- Denison CEO Highlights Phoenix Post-Feasibility Study Progress and Company Reports Financial and Operational Results for Q2'2024
- Denison Announces Signing of Wheeler River Benefit Agreements with Kineepik Métis Local #9 and the Village of Pinehouse Lake
- 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
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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