DNN forming a bull flag, good entry to a long term play.
Updated
Denison Mines is a uranium exploration & development company located in Toronto, Canada. They own 90% of the Wheeler River Project, which is the largest undeveloped uranium project in the eastern portion of the Athabasca Basin region in northern Saskatchewan, Canada.
They just raised 86.3m to buy physical uranium as an investment, which is tightening up the already short supply of uranium and further driving up the spot price. And recently, in a press release, Denison announced it was being added to the SP/TSX Composite Index and the addition took place this Monday (3/21), which means there will be some bigger players stepping in now.
I think this play has a lot of long term potential. A fast growing supply deficit of uranium and the Green New deal, I think this could play out nicely short term but I'm holding long term.
This is not financial advice
They just raised 86.3m to buy physical uranium as an investment, which is tightening up the already short supply of uranium and further driving up the spot price. And recently, in a press release, Denison announced it was being added to the SP/TSX Composite Index and the addition took place this Monday (3/21), which means there will be some bigger players stepping in now.
I think this play has a lot of long term potential. A fast growing supply deficit of uranium and the Green New deal, I think this could play out nicely short term but I'm holding long term.
This is not financial advice
Note
BTW the forecast line is not my target, just a visual lol
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