DNN Crosses Critical Technical Indicator | Commodities
In trading on Thursday, shares of Denison Mines Corp (Symbol: DNN) entered into oversold territory, altering fingers as low as $1.23 per share. We outline oversold territory utilizing the Relative Strength Index, or RSI, which is a technical evaluation indicator used to measure momentum on a scale of zero to 100. A stock is taken into account to be oversold if the RSI studying falls beneath 30.
In the case of Denison Mines Corp, the RSI studying has hit 29.6 — by comparability, the universe of metals and mining stocks coated by Metals Channel presently has an average RSI of 44.3, the RSI of Spot Gold is at 8.9, and the RSI of Spot Silver is presently 12.5.
A bullish investor might take a look at DNN’s 29.6 studying as a signal that the latest heavy promoting is within the course of of exhausting itself, and start to search for entry level alternatives on the buy facet.
Looking at a chart of one yr efficiency (beneath), DNN’s low level in its 52 week vary is $1.23 per share, with $2.47 because the 52 week high level — that compares with a final trade of $1.27. Denison Mines Corp shares are presently trading off about 3.1% on the day.
Click right here to seek out out what 9 different oversold dividend stocks you need to learn about »
Also see:
CALL market cap historical past
MCFT YTD Return
ETFs Holding DWREThe views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
Stay up to date with the latest news within the commodities markets! Our web site is your go-to source for cutting-edge commodity news, market trends, insights, and updates on key assets. We present day by day updates to make sure you have entry to the freshest info on commodity actions, industry efficiency, provide and demand shifts, and main market bulletins.
Explore how these trends are shaping the longer term of world commodities! Visit us recurrently for probably the most partaking and informative content material by clicking right here. Our fastidiously curated articles will keep you knowledgeable on market shifts, investment methods, commodity evaluation, and pivotal moments within the world of assets.
