COMPLETE TECHNICAL ANALYSIS: Denison Mines Corp (DNN) as of June 18, 2025

1. Trend Analysis

Long-Term (Daily):

• DNN has shown a SIGNIFICANT REVERSAL since late May 2025. After consolidating during March–mid-May in the $1.30–$1.55 range (a classic accumulation phase), price broke out above $1.65 on May 23 with a sustained surge in volume—KEY indicator of institutional buying.
• Since then, DNN rallied toward $1.86 (June 16) and is currently consolidating around $1.83–$1.84. Higher highs and higher lows since early June. The uptrend is intact.

Short-Term (Intraday/Hourly):

• Last several hours show relatively tight consolidation: $1.81–$1.84; minor pullback from $1.86 high suggests profit-taking, not trend exhaustion.
• Candle analysis reveals a series of doji/hammer candles on hourly—buyers defend dips near $1.81.

2. Chart Patterns

• Classic Breakout: The move above $1.70–$1.73 zone (May 27–28) broke resistance with heavy volume (157–213 million shares vs. prior avg. ~60 million).
• Mini Bull Flag: After the surge to $1.86 (June 16), a short sideways consolidation (flag) occurs between $1.80–$1.86. This pattern is often continuation bullish as the market absorbs supply.
• Volume Analysis: Volume on up moves remains larger than on down. This divergence is an institutional accumulation hallmark.

3. Moving Averages

• 20-Day SMA: Rising rapidly, now near $1.63 (recent price action always above).
• 50-Day SMA: Near $1.55 – price well above.
• Relation: Price trading ABOVE key moving averages by a wide margin. Both short-term and mid-term EMAs are aligned bullishly. Classic trend following systems signal strong long bias.

4. Momentum Indicators

• RSI (14): Estimated at 68–70 (approaching, but not yet in, overbought); indicates strong momentum but not euphoric excess.
• MACD: Strong bullish cross since mid-May; histogram is waning slightly—potential for short pause or minor dip, but overall momentum remains up.

5. Volume Analysis & Order Flow

• Recent Surges: Peak volumes of 343M(6/16), 211M (6/9), 208M(5/28), 157M(5/27) support conviction moves.
• Price-Volume Correlation: Rising prices on high volume, declining/intraday red candles on much lighter volume – bullish.
• VWAP (intraday): Price repeatedly returns to, and bounces off, intraday VWAP near $1.82–$1.83, a strong demand area.

6. Support & Resistance Levels

• Immediate Support: $1.81 intraday (hourly lows and prior resistance), then $1.78 (breakout retest), $1.70 (major breakout base), and $1.63–$1.65 (20-day SMA, prior top).
• Immediate Resistance: $1.86 (recent high); psychological resistance at $1.90, and $2.00 (round number and likely large seller stop clusters).

7. Volatility and ATR

• 14-day ATR: Expanded sharply during May/June’s rally, currently estimated at $0.10–$0.13. This means 24hr price swings of $0.10+ are probable, with wide intraday ranges common.

8. Price Action/Pivot Analysis

• Yesterday’s action: Opened $1.85, high $1.87, low $1.77, close $1.83—deep lower shadow, closed near high—indicates strong dip buying. Today continues sideways consolidation.
• Pivot Point (today): Calculated at $1.83; price is currently flirting with this level—bulls defending.

9. Fibonacci Retracements

• From the May 16 swing low ($1.43) to June 16 high ($1.86), key retracement levels:
  • 23.6% = $1.76
  • 38.2% = $1.71
• Price never closed below 23.6%, strong indication of shallow pullbacks in a bull market.

10. Sentiment & Relative Strength

• Relative to Uranium/Mining sector: DNN has outperformed sector ETFs and most peers in June, due to renewed uranium enthusiasm and strong sector flows.
• Social and News Flow: No negative headlines. Market sentiment remains bullish with retail and institutional interest.

11. Professional Positioning

• Signs of options activity (not visible here, but typically notable near breakout highs on miners).
• Tape-reading suggests active accumulation on any dip toward the $1.80–$1.82 area.

12. Risk Management & Stop Placement

• Immediate support at $1.81 (hourly), with a hard stop at $1.78 (last intraday low).
• Downside risk limited unless price closes deep below $1.78/$1.76.

13. Probability/Forecast for Next 24h

• Given bullish technicals, high volume confirmation, upward trend, and sectoral tailwinds:
  • Base case: Continuation to retest $1.86–$1.89 high within 24 hours, with possible extension to psychological $1.90–$2.00 on momentum.
  • Downside risk: Only on broad market weakness or failed breakout; $1.81 serves as first defense for bulls.

COMBINED SIGNALS / STRATEGY CALL

• Trend orientation: Strong uptrend, all pullbacks have been shallow and quickly reversed.
• Technical backdrop: All major indicators confirm the strength—moving averages, price pattern (bull flag), volume expansion, support defense.
• Risk/Reward: Favorable especially with tight stop below $1.81; upside potential toward $1.90 minimum, possible $2.00 tag on strong momentum.

Final Recommendation

A BUY (long position) is favored. Optimal long entry achievable on a small dip toward $1.82–$1.83; targeting profit at $1.90 (prior near-term resistance), with further upside to $2.00 if momentum accelerates. Stop at $1.78.

Summary Table

Factor	Observation
Trend	Strong uptrend, higher highs/lows
Chart Pattern	Bull flag (continuation)
Volume	Surge on up moves, healthy
Moving Averages	Price above all key averages
RSI	Strong but not dangerously overbought
MACD	Bullish crossover sustained
Support	$1.81, $1.78, $1.70
Resistance	$1.86 (next test), $1.90, $2.00
Fibonacci Pullbacks	Shallow, classic bull move
ATR	High volatility, suitable for active trading
Sentiment	Positive, strong sector context
Stop	$1.78
Target	$1.90, stretch $2.00

ACTION: Buy on a dip (optimal $1.83–$1.84). Profit Target: $1.90 (take profit just shy of likely stop clusters). Risk: Tight stop at $1.78 ensures defined risk.

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Conclusion: Given the powerful bullish confluence across multiple technical frameworks, the risk-reward balance is heavily in favor of a tactical long entry in Denison Mines Corp for the next 24hr horizon.

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