Jul. 1 at 2:22 PM
$DNN still sitting below both the 50 EMA and 200 EMA, with price action continuing to get capped under a declining broadening wedge resistance. The structure is still showing that every bounce is being met with supply, which keeps the broader trend tilted to the downside for now.
Until
$3.36 is reclaimed and held on a closing basis, most upside moves are better viewed as corrective reactions rather than a true shift in trend control. Sellers are still active at overhead levels and defending momentum attempts.
A decisive break and close above
$3.36 would be the first real structural change, signaling improving momentum and a potential shift where buyers start regaining control. Until then, patience remains the higher probability approach for longs.
