DENISON MINES CORP - 1H - Technical analysis published on 10/24/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
22%
50%
28%
My opinion
Bearish under 2.21 USD
My targets
2.12 USD (-2.30%)
1.96 USD (-9.68%)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for DENISON MINES CORP as long as the price remains well below 2.21 USD. The next bearish objective for sellers is set at 2.12 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.96 USD. In case of crossing, the next objective would be the support located at 1.75 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 2.12 USD. With this support, against the trend traders who want to buy DENISON MINES CORP on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
1.3
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Additional analysis
Quotes
The DENISON MINES CORP rating is 2.17 USD. On the day, this instrument gained +0.00% and was between 2.15 USD and 2.20 USD. This implies that the price is at +0.93% from its lowest and at -1.36% from its highest.2.15
2.20
2.17
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:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of DENISON MINES CORP in 1H shows an overall slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
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 | 1.75 | 1.96 | 2.12 | 2.17 | 2.21 | 2.28 | 2.42 |
| Change (%) | -19.35% | -9.68% | -2.30% | - | +1.84% | +5.07% | +11.52% |
| Change | -0.42 | -0.21 | -0.05 | - | +0.04 | +0.11 | +0.25 |
| Level | Major | Major | Intermediate | - | Intermediate | Intermediate | 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 | 1.97 | 2.05 | 2.11 | 2.19 | 2.25 | 2.33 | 2.39 |
| Camarilla | 2.13 | 2.14 | 2.16 | 2.17 | 2.18 | 2.20 | 2.21 |
| Woodie | 1.96 | 2.05 | 2.10 | 2.19 | 2.24 | 2.33 | 2.38 |
| Fibonacci | 2.05 | 2.10 | 2.14 | 2.19 | 2.24 | 2.28 | 2.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.49 | 1.67 | 2.03 | 2.21 | 2.57 | 2.75 | 3.11 |
| Camarilla | 2.23 | 2.28 | 2.33 | 2.38 | 2.43 | 2.48 | 2.53 |
| Woodie | 1.57 | 1.72 | 2.11 | 2.26 | 2.65 | 2.80 | 3.19 |
| Fibonacci | 1.67 | 1.88 | 2.01 | 2.21 | 2.42 | 2.55 | 2.75 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 41.94 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | -10.32 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 2.20 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.23 | |
| Elder Ray (13): | -0.03 | |
| Super Trend (3,10): | 2.28 | |
| Zig ZAG (10): | 2.16 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 27.76 | |
| TEMA (21): | 2.15 | |
| Williams %R (14): | -81.11 | |
| Chande Momentum Oscillator (20): | -0.11 | |
| Repulse (5,40,3): | -0.5000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 7.64 |
| MA7: | 2.24 | |
| MA20: | 2.02 | |
| MA50: | 1.77 | |
| MA100: | 1.87 | |
| MAexp7: | 2.18 | |
| MAexp20: | 2.21 | |
| MAexp50: | 2.18 | |
| MAexp100: | 2.08 | |
| Price / MA7: | -3.13% | |
| Price / MA20: | +7.43% | |
| Price / MA50: | +22.60% | |
| Price / MA100: | +16.04% | |
| Price / MAexp7: | -0.46% | |
| Price / MAexp20: | -1.81% | |
| Price / MAexp50: | -0.46% | |
| Price / MAexp100: | +4.33% |
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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