DML trade ideas
Long term investment in $DNNI have longed Denison Mines Corp as a long term investment. As it stands, nuclear energy is the cleanest and most efficient way to produce energy. With all the macro fundamentals, along with the narrative that oil can double from here in the next decade, I believe governments will be forced to look for reliable and high output energy production alternatives.
Countries like UK and France are already embracing this source of energy, others will follow.
I do not like the valuation here, but since this is a long term investment I am ready to stomach volatility against my position. Risk is 1%.
If macro fundamentals change by some miracle or DNN has major changes that may impact business growth I will jump out of the position.
Divergent on Denison Mines Corporation. DNNBearish, guys. Divergence on Jurik's relative strength and Directional momentum is crossing the median. We might be starting to draw a new zigzag in which event we are able to map potential goals before reassessment. There are two potential goals here, at which stage I will reassess the state on this stock.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
$DNN if it doesn't BO, might do a bit of sliding here - c/w U308$DNN firmly in the bullflag. Coming around nicely tracking on the VWAP... BUt looks like a reasonable chance it will slide down that falling wedge in line with Uranium prices, build up some RSI and away it can go again!
It may take off, and if it does that VWAP and waistline become support.