DML trade ideas
DNN DENISON MINES$DNN Stoch indicator pointing out to an extreme oversold. All I can say even after this extreme correction Ichimoku Cloud still looking intact. More downside is possible based on RSI downward pressure. IMHO we are very close. Smart money is using this opportunity to accumulate these shares on a huge sale. #uranium
DNN UpdateDNN perfomred really well in the last weeks and need to breath again for next run.
The price is again on a support and we are onm a higher level overall since beginning of the year.
Technically the trend is still solid and is running nice and slowly north. The last pattern which brought us $1.50 again is way different as the last one, it looks more healthy and solid - good sign!
Right now the stock is geeting shorted a lot, this can trigger the next bullrun if the shorts are getting closed and other investors take the opportunity to hop on.
The target is still $2.
Denison Mines - Must Own Uranium PlayBullish engulfing forming with the last green candle absorbsing the last 3 candles.
-/ In order for the bullish engulfing to confirm, the next candle must be green.
-/ If not confirmed, price could test the 50 days MA, before accelerating.
-/ RSI and Stochastics are in positive territory and look good.
STRATEGIC PROJECT PORTFOLIO:
-/ 90% interest in flagship Wheeler River project – largest undeveloped uranium project in infrastructure rich eastern Athabasca Basin, with the potential to be a “top 5” producing mine
-/ 22.5% interest in operating McClean Lake Uranium Mill – 6M lbs U3O8 excess licensed capacity, currently producing +12% of global uranium production
-/ Additional leverage to the uranium price with interests in existing uranium resources at McClean Lake, Midwest, and Waterbury Lake
-/ ~280,000 hectares of prospective exploration ground in the Athabasca Basin
-/ Internal sources of cash flow from management of Uranium Participation Corp. (TSX-U), and Denison's Closed Mines Services, minimizing dilution to existing shareholders
FLAGSHIP WHEELER RIVER PROJECT:
-/Largest undeveloped uranium project in infrastructure rich eastern Athabasca Basin, including an estimated 132M lbs U3O8 in Indicated resources plus 3M lbs U3O8 in Inferred resources.
-/ Low estimated operating costs, with lowest estimate of initial CAPEX required to build amongst Athabasca Basin development projects(1)
-/Existing infrastructure supporting mining operations in proximity to Wheeler River – including 4 licensed uranium mines, 3 licensed uranium mills, and access to the provincial power grid and highway network – reduces development risk profile
Major Break for DNN$DNN is breaking through the indicated Pivot point (around $1.33) it's nice close that make two target points after nice consolidation - We have two Target Points as showing in the chart, TP1 is short term, TP2 is for long term
To meet TP1, price move has to be followed by bullish candles on Monday (7th June) , if that happens it's a confirmation that we are moving in the right direction - in that way we might touch ATH ($1.8) depends on the price move we might reverse with consolidation or selloff till we reach TP2 (expected EOY or early next 2022)
This stock is a long term move for me, i have entered with an average of $1.19 , Uranium Sector is one of the hot sectors as might be a good way to generate clean energy to combat the move the EVs and oil shortage.
Disclaimer:
I'm not a financial advisor this idea for education purposes only, DO YOUR OWN DUE DILIGENCE PLZ
DNN bet into the futureDNN had an sucessful breakout after an triangle pattern and the trend will continue.
Also check latest news from Barclays:
Barclays believes investors are overlooking a key source in the push to decarbonization: nuclear energy.
Barclays notes that nuclear output is not influenced by weather conditions and seasonality; nuclear waste is less than the waste from retired solar panels, wind turbine blades and lithium ion batteries; and nuclear power does not need the storage solutions required by renewable energy.
In the big safety issue, all nuclear accidents have occurred in earlier-generation plants, Barclays says.
"Advanced nuclear reactors and proposed small modular reactors do not rely on power to drive safety systems. Instead, they depend on the laws of physics (gravity, convection, heat transfer) to protect the core in the event of an accident. These designs should provide even better safety statistics than the historical comparables," Barclays says.
In nuclear news today, Bill Gates' advanced nuclear reactor company TerraPower LLC and PacifiCorp, owned by Warren Buffet's Berkshire Hathaway (BRK.A, BRK.B), have selected Wyoming to launch the first Natrium reactor project on the site of a retiring coal plant.
Price target 2$!
DNN - Wyckoff Accumulation Phase DAppears to be Wyckoff accumulation on the daily chart. Most likely appearing to be in Phase D, attempting to break resistance at the .618. With a successful breakout, we may see a back test to the .618 before further continuation to the upside.
We could see targets of $1.50 and above.
