Denbury Resources Stock Forecast

Hold candidate since Jul 31, 2020

No changes to the price of Denbury Resources Inc stock on the last trading day (Friday, 4th Sep 2020). During the last trading day the stock fluctuated 0% from a day low at $0.241 to a day high of $0.241. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.06% during the next 3 months and, with a 90% probability hold a price between $0.0541 and $0.348 at the end of this 3-month period.

DNR Signals & Forecast

There are few to no technical positive signals at the moment. The Denbury Resources Inc 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 $0.241 and $0.241. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, September 03, 2020, and so far it has fallen 0%. 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). 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 Denbury Resources Inc stock

Denbury Resources Inc finds support from accumulated volume at $0.240 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 0%

Our recommended stop-loss: $0.231 (-4.00%) (This stock has very low daily movements and this gives very low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (DNR) For The Upcoming Trading Day Of Tuesday 8th

For the upcoming trading day on Tuesday, 8th we expect Denbury Resources Inc to open at $0.241, and during the day (based on 14 day Average True Range), to move between $0.238 and $0.244, which gives a possible trading interval of +/-$0.0051 (+/-2.14%) up or down from last closing price. If Denbury Resources Inc takes out the full calculated possible swing range there will be an estimated 2.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.240 (0.33%) than the resistance at $0.255 (5.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Denbury Resources Inc stock A Buy?

Denbury Resources 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Fair Opening Price

Predicted fair opening price on September 8, 2020 - $0.241 ( 0%).

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