Denison Mines Corp. Stock Forecast
Red day on Monday for Denison Mines Corp.
(Updated on Jun 17, 2024)
No changes to the price of Denison Mines Corp. stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $2.85 to a day high of $2.85. The price has fallen in 5 of the last 10 days and is down by -11.76% for this period.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.22% during the next 3 months and, with a 90% probability hold a price between $3.16 and $3.84 at the end of this 3-month period.
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DML.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Denison Mines Corp. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.86 and $2.98. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Denison Mines Corp. stock
Denison Mines Corp. finds support from accumulated volume at $2.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.25%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DML.TO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Denison Mines Corp. to open at $2.85, and during the day (based on 14 day Average True Range), to move between $2.74 and $2.96, which gives a possible trading interval of +/-$0.114 (+/-4.00%) up or down from last closing price. If Denison Mines Corp. takes out the full calculated possible swing range there will be an estimated 7.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.87 (0.70%) than the support at $2.81 (1.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Denison Mines Corp. stock A Buy?
The Denison Mines Corp. stock holds several negative signals and despite the positive trend, we believe Denison Mines Corp. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.030 Sell Candidate Unchanged
Predicted Opening Price for Denison Mines Corp. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $2.85 ( 0%) | $2.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DML.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.85 | - |
| R2 | 2.85 | - |
| R1 | 2.85 | - |
| Price | 2.85 | |
| S1 | 2.85 | - |
| S2 | 2.85 | - |
| S3 | 2.85 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.00 | 5.26% |
| R2 | 2.92 | 2.46% |
| R1 | 2.87 | 0.702% |
| Price | 2.85 | |
| S1 | 2.81 | -1.40% |
| S2 | 2.79 | -2.11% |
| S3 | 2.77 | -2.81% |
FAQ
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