DNN rose well today (especially premarket) and has great volume. It has created a rising channel with its most recent tops and bottoms, but has also confirmed above recent resistance. See the 4HR ruling candle in the chart. It closed above the resistance zone, and like I always say, it will retest the zone (doing that now) to verify if it can become a new support zone. Lets see how this plays out. If it retests the zone successfully, we can see a move much higher, if not we can see a retracement (look for about 60% retracement to buy) - or a tap to the 50 period MA. Will update as it moves along.
Good luck and make your own informed decisions
Note
DNN is currently sitting at 1.61 in after hours rise. I am looking to buy it should there a be a dip (separate trade than already entered above)DNN 1.52 buy limit - SL 1.46 - TP 1.72
Note
if placed trade would have stopped out. Looking for a bounce at 1.04 zone
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.