not good newsInvestors look to Lighten Up on Shares of Denison Mines, Shares Down 5.8% (DNN) 07/20/2015 11:12 AM ET Jul 20, 2015 (SmarTrend(R) Spotlight via COMTEX News Network) -- Denison Mines (AMEX:DNN) is one of today's worst performing penny stocks, down 5.8% to $0.55 on 1.3x average daily volume. Thus far today, Denison Mines has traded 660,000 shares, vs. average volume of 527,000 shares per day. The stock has underperformed the Dow (-5.8% to the Dow's 0.1%) and underperformed the S&P 500 (-5.8% to the S&P's 0.1%) during today's trading.
Denison Mines Corporation explores and produces uranium concentrates. The Company holds interest in properties in the United States, Canada, and Mongolia. Denison also has a mining project in Zambia.
Potential upside of 162.4% exists for Denison Mines, based on a current level of $0.55 and analysts' average consensus price target of $1.43. The stock should find initial resistance at its 50-day moving average (MA) of $0.79 and further resistance at its 200-day MA of $0.90.
In the past 52 weeks, shares of Denison Mines have traded between the current low of $0.53 and a high of $1.41 and are now at $0.55. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.4% while the 200-day MA has slid 1.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of Denison Mines on December 9th, 2014 by issuing a Downtrend alert when the shares were trading at $0.98. Since that call, shares of Denison Mines have fallen 40.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com