DNN tightening before a move up
Updated
DNN has been in a strong, upward trend since March. Since that time it has surfed the 10 & 20 MA, occasionally touching the 50. It has been consolidating in the 1.70-1.85 range for a month on above average volume. It just bounced strongly off the 50 MA a few days ago. I think the pressure continues to build as the range tightens if it continues in this variation of a Bullish Symmetrical Triangle. Looking for a move to 2+ if it breaks out in January.
https://www.tradingview.com/chart/bGJWkuzC/
https://www.tradingview.com/chart/bGJWkuzC/
Note
Look at the pattern on the Moving Averages here. It wants to repeat. Everything is lining up for a break above the Bullish Symmetrical Triangle. Going to continue to add around the 50 here.tradingview.com/chart/vw3XYix2/
Note
Strong off the 50 MA. Move is still in play. tradingview.com/chart/vw3XYix2/
Trade active
Added more today in the 60s. Holding my full position: 2500 shares. Planning on cutting at 1.64. Lost the triangle today.Trade closed: stop reached
I got stopped out today at 1.63
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