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Denison Mines(DNN - Get Report) is engaged in uranium exploration, development, mining and milling with uranium mining projects in both the U.S. and Canada and development projects in Canada, the U.S., Zambia and Mongolia. This stock is trading up 13.9% to $1.63 in recent trading.
Today's Range: $1.46-$1.64
52-Week Range: $0.81-$2.46
Volume: 2 million
Three-Month Average Volume: 1.2 million
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From a technical perspective, DNN has started to move back above its 200-day moving average of $1.56 today on heavy volume. This move is quickly pushing DNN within range of triggering a major near-term breakout trade. That trade will hit once DNN takes out its 50-day moving average of $1.67, and then some near-term overhead resistance at $1.73 with high-volume.
Traders should now look for long biased trades in DNN if it can manage to sustain a move and close above those levels with volume that's near or above 1,171,780 shares. If we get that action soon, look for DNN to make a run at its recent high of $2.07 in the near future.