DENBURY RESOURCES INC.

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Type:	Stocks
Ticker:	DNR
ISIN:

DENBURY RESOURCES INC. - Daily - Technical analysis published on 06/10/2020 (GMT)

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Timeframe : Daily
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DENBURY RESOURCES INC. Chart

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Bullish

Technical indicators

83%

11%

My opinion

Bullish above 0.458 USD

My targets

0.971 USD (+68.28%)

1.120 USD (+94.11%)

My analysis

In the short term, there could be an acceleration of the basic bullish trend on DENBURY RESOURCES INC.. This is a positive signal for buyers. As long as the price remains above 0.458 USD, a purchase could be considered. The first bullish objective is located at 0.971 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.120 USD as an objective. Crossing it would then enable buyers to target 1.437 USD. In the event of a return below 0.458 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

FORCE

5.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by BogdanFl.

Additional analysis

Quotes

DENBURY RESOURCES INC. rating 0.577 USD. The price is lower by -23.07% since the last closing and was traded between 0.512 USD and 0.649 USD over the period. The price is currently at +12.70% from its lowest and -11.09% from its highest.

0.512

0.649

0.577

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Volumes scanner detects abnormal volumes on the asset:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of this Daily chart of DENBURY RESOURCES INC. indicates that the overall trend is bullish. 64.29% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish trend reversal : adaptative moving average 100

Type : Bullish

Timeframe : Daily

Moving Average bullish crossovers : AMA20 & AMA50

Type : Bullish

Timeframe : Daily

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Daily

In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Ichimoku : price is over the cloud

Type : Bullish

Timeframe : Daily

MACD indicator is back over 0

Type : Bullish

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Daily

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of these bullish patterns in Japanese candlesticks:

Upside gap

Type : Bullish

Timeframe : Daily

Long white line

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S2	S1	Price	R1	R2	R3
ProTrendLines	0.215	0.355	0.577	0.971	1.120	1.437
Change (%)	-62.74%	-38.47%	-	+68.28%	+94.11%	+149.05%
Change	-0.362	-0.222	-	+0.394	+0.543	+0.860
Level	Intermediate	Major	-	Intermediate	Minor	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.350	0.430	0.590	0.670	0.830	0.910	1.070
Camarilla	0.684	0.706	0.728	0.750	0.772	0.794	0.816
Woodie	0.390	0.450	0.630	0.690	0.870	0.930	1.110
Fibonacci	0.430	0.522	0.578	0.670	0.762	0.818	0.910

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.121	0.173	0.269	0.322	0.417	0.470	0.566
Camarilla	0.324	0.338	0.351	0.365	0.378	0.392	0.406
Woodie	0.142	0.184	0.291	0.332	0.439	0.481	0.587
Fibonacci	0.173	0.230	0.265	0.322	0.378	0.413	0.470

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.017	0.115	0.164	0.262	0.311	0.409	0.458
Camarilla	0.173	0.186	0.200	0.213	0.227	0.240	0.253
Woodie	-0.008	0.103	0.140	0.250	0.287	0.397	0.434
Fibonacci	0.115	0.171	0.206	0.262	0.318	0.353	0.409

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	66.60
MACD (12,26,9):	0.0540
Directional Movement:	42.928
AROON (14):	42.857
DEMA (21):	0.390
Parabolic SAR (0,02-0,02-0,2):	0.238
Elder Ray (13):	0.209
Super Trend (3,10):	0.419
Zig ZAG (10):	0.577
VORTEX (21):	0.9310
Stochastique (14,3,5):	87.38
TEMA (21):	0.457
Williams %R (14):	-32.16
Chande Momentum Oscillator (20):	0.316
Repulse (5,40,3):	29.1670
ROCnROLL:	1
TRIX (15,9):	0.6150
Courbe Coppock:	110.30

MA7:	0.385
MA20:	0.300
MA50:	0.268
MA100:	0.506
MAexp7:	0.442
MAexp20:	0.339
MAexp50:	0.347
MAexp100:	0.495
Price / MA7:	+49.87%
Price / MA20:	+92.33%
Price / MA50:	+115.30%
Price / MA100:	+14.03%
Price / MAexp7:	+30.54%
Price / MAexp20:	+70.21%
Price / MAexp50:	+66.28%
Price / MAexp100:	+16.57%

Quotes : 2020-06-09 19:59:59 - 15 min delayed data - NYSE Stocks

News

The last news published on DENBURY RESOURCES INC. at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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