DENISON MINES CORP - 1H - Technical analysis published on 10/16/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 2.12 USD
My targets
2.28 USD (+4.11%)
2.42 USD (+10.50%)
My analysis
The bullish trend is currently very strong on DENISON MINES CORP. As long as the price remains above the support at 2.12 USD, you could try to benefit from the boom. The first bullish objective is located at 2.28 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2.42 USD as an objective. Crossing it would then enable buyers to target 4.45 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 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
8.9
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Additional analysis
Quotes
The DENISON MINES CORP price is 2.19 USD. The price registered an increase of +13.47% on the session and was traded between 1.98 USD and 2.20 USD over the period. The price is currently at +10.61% from its lowest and -0.45% from its highest.1.98
2.20
2.19
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of DENISON MINES CORP in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.92 | 1.97 | 2.12 | 2.19 | 2.28 | 2.42 | 4.45 |
| Change (%) | -12.33% | -10.05% | -3.20% | - | +4.11% | +10.50% | +103.20% |
| Change | -0.27 | -0.22 | -0.07 | - | +0.09 | +0.23 | +2.26 |
| Level | Minor | Major | Major | - | 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 | 1.80 | 1.83 | 1.88 | 1.91 | 1.96 | 1.99 | 2.04 |
| Camarilla | 1.91 | 1.92 | 1.92 | 1.93 | 1.94 | 1.95 | 1.95 |
| Woodie | 1.81 | 1.84 | 1.89 | 1.92 | 1.97 | 2.00 | 2.05 |
| Fibonacci | 1.83 | 1.86 | 1.88 | 1.91 | 1.94 | 1.96 | 1.99 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.69 | 1.75 | 1.84 | 1.90 | 1.99 | 2.05 | 2.14 |
| Camarilla | 1.88 | 1.89 | 1.91 | 1.92 | 1.93 | 1.95 | 1.96 |
| Woodie | 1.70 | 1.76 | 1.85 | 1.91 | 2.00 | 2.06 | 2.15 |
| Fibonacci | 1.75 | 1.81 | 1.85 | 1.90 | 1.96 | 2.00 | 2.05 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.97 | 1.18 | 1.51 | 1.72 | 2.05 | 2.26 | 2.59 |
| Camarilla | 1.68 | 1.73 | 1.78 | 1.83 | 1.88 | 1.93 | 1.98 |
| Woodie | 1.02 | 1.21 | 1.56 | 1.75 | 2.10 | 2.29 | 2.64 |
| Fibonacci | 1.18 | 1.39 | 1.52 | 1.72 | 1.93 | 2.06 | 2.26 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 81.10 | |
| MACD (12,26,9): | 0.0500 | |
| Directional Movement: | 41.92 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 2.01 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.89 | |
| Elder Ray (13): | 0.15 | |
| Super Trend (3,10): | 1.98 | |
| Zig ZAG (10): | 2.16 | |
| VORTEX (21): | 1.2300 | |
| Stochastique (14,3,5): | 97.92 | |
| TEMA (21): | 2.05 | |
| Williams %R (14): | -4.84 | |
| Chande Momentum Oscillator (20): | 0.26 | |
| Repulse (5,40,3): | 7.9900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1600 | |
| Courbe Coppock: | 11.84 |
| MA7: | 1.94 | |
| MA20: | 1.87 | |
| MA50: | 1.69 | |
| MA100: | 1.87 | |
| MAexp7: | 2.03 | |
| MAexp20: | 1.96 | |
| MAexp50: | 1.91 | |
| MAexp100: | 1.87 | |
| Price / MA7: | +12.89% | |
| Price / MA20: | +17.11% | |
| Price / MA50: | +29.59% | |
| Price / MA100: | +17.11% | |
| Price / MAexp7: | +7.88% | |
| Price / MAexp20: | +11.73% | |
| Price / MAexp50: | +14.66% | |
| Price / MAexp100: | +17.11% |
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:
- Foremost Clean Energy Completes First Phase of Option Agreement with Denison Mines for Interest in 10 Uranium Properties in the Athabasca Basin
- Denison Files Early Warning Report in Respect of Foremost Clean Energy Ltd.
- Denison Announces Option of Non-Core Exploration Projects to Foremost for up to $30 Million in Combined Consideration
- Grounded Lithium Announces Robust $4.5 Million Budget Funded by Denison Mines for the Kindersley Lithium Project
- Denison CEO Highlights Phoenix Post-Feasibility Study Progress and Company Reports Financial and Operational Results for Q2'2024
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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