Denbury Resources Inc. (DNR) Technical Analysis 20/10/2017

Denbury Resources Inc. (NYSE:DNR) showed no change in yesterday’s session. The price has fallen in 6 of the last 10 days and is down by -15.49% over the same course of time.


Inside DNR’s Recent Trend

Denbury Resources Inc. (DNR) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -6.16% over the course of a quarter and, with 90% chance the price will be floating in the range of $0.85 and $1.35 in this timeframe.

Denbury Resources Inc. Technical Signals

DNR has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $1.21 and $1.25. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday October 18, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume dropped in the recent session while price showed zero percent change. This may or may not be an early warning signal. It is still a good idea for investors to wait for the next couple of days before taking any step.

Denbury Resources Inc. (NYSE:DNR) Support And Resistance Levels

Denbury Resources Inc. (DNR) recorded volume accumulation so there will probably be a surplus of buyers at $1.16. In case of gains, the next resistance from accumulated volume will be at $1.36, $1.37 and $1.46.


Denbury Resources Inc. (DNR) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.09 between high and low, or 7.83%. The average volatility for the past week stood at 7.69%.

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