Denbury Inc. stock downgraded to Hold/Accumulate
(Updated on Dec 08, 2021)
Buy or Hold candidate since 2021-12-07 Gain 0.75% PDF
The Denbury Inc. stock price gained 0.75% on the last trading day (Wednesday, 8th Dec 2021), rising from $83.84 to $84.47. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 2.76% from a day low at $83.01 to a day high of $85.30. The price has risen in 6 of the last 10 days and is up by 1.71% over the past 2 weeks. Volume fell on the last day by -213 thousand shares and in total, 306 thousand shares were bought and sold for approximately $25.82 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.35% during the next 3 months and, with a 90% probability hold a price between $92.00 and $114.49 at the end of this 3-month period.
Signals & Forecast
The Denbury Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $80.12 and $83.06. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, November 05, 2021, and so far it has fallen -6.66%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $79.38 and $72.52. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Denbury Inc. finds support just below today's level at $79.38. If this is broken, then the next support from accumulated volume will be at $72.52 and $71.55.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.29 between high and low, or 2.76%. For the last week, the stock has had a daily average volatility of 5.94%.
Our recommended stop-loss: $81.34 (-3.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Is Denbury Inc. stock A Buy?
Denbury Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.162
Predicted Opening Price for Denbury Inc. of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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On Nov 23, 2021 "Tudor Pickering" gave "$109.00" rating for DEN. The price target was changed from $80.85 to 0.2%.
DEN Insider Trading
|Dec 04, 2021||Sell||292||Jennings Nicole H.||Common Stock|
|Dec 04, 2021||Sell||739||Matthews James S.||Common Stock|
|Dec 04, 2021||Sell||3 751||Kendall Christian S||Common Stock|
|Dec 04, 2021||Sell||1 407||Allen Mark C||Common Stock|
|Mar 16, 2021||Buy||9 726||Yeilding Cindy A||Common Stock|
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