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DNN

DNN1. 20DMA is crossing 50DMA in a downtrend pattern. 2. We are sitting right at the support line and Stoch indicator stating that we are in an oversold territory 3. Uranium sport price is not increasing while is the reason why we have recent sell offs plus red market is adding more pressure. It is very tempting to sell and buy at a lower price but one never knows when spot price and market will turn around. Next thing you know the move to an upside is way too fast and you enter too late. Patience is the key here. I personally do not want to be among thousands of other buyers trying to enter into a tiny door. Music is playing and one of the utilities won't have a chair to sit on. We need patience and good luck
AMEX:DNNLong
by AskDrBurt
1
DNN Dennison MinesBreak out will depend on a U3O8 spot price and market conditions. Since Cameco had announced an emergency restart due to very low inventory of available metal and their contractual obligations it is just a matter of a very short period of time b4 spot price will start moving up North. DNN will be one of the lowest cost producers when they start mining. This temporary holt in a price advance in all uranium miners is just an opportunity to buy more if one has more dry powder left. Patience here will certainly pay off. My target price still remains the same - overshoot to about $2.70 when FOMO kicks in and it will settle between $2.00-$2.20 I would not jump in and out trading - the sudden move in this sector will leave you behind very quick. Good luck.
AMEX:DNNLong
by AskDrBurt
DNN possible target priceUranium sector is consolidating at this point and time and is gaining a momentum for a new move. Fundamentals are strong with 60 millions pounds deficit. DNN will be the largest and resource of U3O8 in the world. Smart move by scooping up physical metal from a market is just accelerating the inevitable. Bullish pennant is just another confirmation that it is ready for the next stage. Possible projection with overshoot price is around $2.7, and most likely will settle around $2-2.2. Also inside of the bullish pennant what appears to be is reverse head and shoulders. Market is ready to fire on all cylinders after JP announcing another 3T of Brrrrrrr money. Good luck
AMEX:DNNLong
by AskDrBurt
11
DNN Elliot Wave analysisFundamentally not a very good company. Not profitable currently. DNN is getting caught up in the uranium bullmarket explaining the increase. DNN has some big projects starting up and with increase of uranium demand the company has a very good shot at getting profitable in the medium term. (Note: stockdillution will probably not happen because DNN has internal sources of cash flow from the management of the Uranium Participation Corp. and Denison's Closed Mines Services.) PT shortterm $3.30 (based on elliotwave) PT longterm ?? can DNN become profitable? How agressive will uranium bullmarket be? ~slippe
AMEX:DNN
by Slippe
4