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DENBURY RESOURCES LTD
(DNR-NYSE):
Technical Viewpoint: From a low
of $15.10 on Mar 22, 2010 prices
rallied, reaching a
high of $18.48
on Apr 7, 2010. A
decline saw prices pull back, reaching a
low of
$16.97 on Apr 19, 2010.
Another rally saw prices penetrate
resistance, closing 4/30/10
at $19.15. Technicals: MACD Index (MACD): A Buy Alert!
was given on Apr 30, 2010 when the solid line crossed the dotted line to the upside.
Support: Remains at $18.50. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Mar 5, 2010. A P&F upside
reversal takes place at $17.50. Summary: Technical indicators have turned bullish. BUY! Denbury Resources Ltd
(DNR-NYSE) @ $19.50 Stop: Use a protective stop of $18.13.
Denbury Resources Ltd is currently trading @ $19.15 plus $0.73 on Apr 30, 2010. Price Objective:
$29.50. Risk/Reward: $1.37 VS. $10.00. Today's Risk Reward Ratio: 7:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$29.50
Risk/Reward:
$1.37 VS. $10.00
Risk/Reward Ratio:
7:1
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