REN

- EUR (-)

- 15 min delayed data - Euronext Lisbonne

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	RENE
ISIN:	PTREL0AM0008

REN - 1H - Technical analysis published on 03/04/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

17%

My opinion

Bullish above 2.220 EUR

My targets

2.260 EUR (+1.12%)

2.280 EUR (+2.01%)

My analysis

REN is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2.220 EUR. The next resistance located at 2.260 EUR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2.280 EUR. After this resistance, buyers could then target 2.309 EUR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem 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

7.3

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.

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Additional analysis

Quotes

The REN price is 2.235 EUR. On the day, this instrument gained +0.45% with the lowest point at 2.230 EUR and the highest point at 2.240 EUR. The deviation from the price is +0.22% for the low point and -0.22% for the high point.

2.230

2.240

2.235

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

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

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of REN in 1H shows a strongly overall bullish trend. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Moving Average bullish crossovers : MA20 & MA50

Type : Bullish

Timeframe : 1 hour

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2.180	2.189	2.220	2.235	2.245	2.260	2.280
Change (%)	-2.46%	-2.06%	-0.67%	-	+0.45%	+1.12%	+2.01%
Change	-0.055	-0.046	-0.015	-	+0.010	+0.025	+0.045
Level	Intermediate	Major	Intermediate	-	Major	Minor	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.162	2.178	2.202	2.218	2.242	2.258	2.282
Camarilla	2.214	2.218	2.221	2.225	2.229	2.232	2.236
Woodie	2.165	2.180	2.205	2.220	2.245	2.260	2.285
Fibonacci	2.178	2.194	2.203	2.218	2.234	2.243	2.258

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.128	2.152	2.188	2.212	2.248	2.272	2.308
Camarilla	2.209	2.214	2.220	2.225	2.231	2.236	2.242
Woodie	2.135	2.155	2.195	2.215	2.255	2.275	2.315
Fibonacci	2.152	2.175	2.189	2.212	2.235	2.249	2.272

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.028	2.097	2.143	2.212	2.258	2.327	2.373
Camarilla	2.158	2.169	2.180	2.190	2.201	2.211	2.222
Woodie	2.018	2.091	2.133	2.206	2.248	2.321	2.363
Fibonacci	2.097	2.141	2.168	2.212	2.256	2.283	2.327

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	67.66
MACD (12,26,9):	0.0090
Directional Movement:	37.216
AROON (14):	92.857
DEMA (21):	2.221
Parabolic SAR (0,02-0,02-0,2):	2.198
Elder Ray (13):	0.016
Super Trend (3,10):	2.208
Zig ZAG (10):	2.235
VORTEX (21):	1.1320
Stochastique (14,3,5):	84.24
TEMA (21):	2.230
Williams %R (14):	-9.09
Chande Momentum Oscillator (20):	0.050
Repulse (5,40,3):	0.3120
ROCnROLL:	1
TRIX (15,9):	0.0290
Courbe Coppock:	3.37

MA7:	2.207
MA20:	2.206
MA50:	2.263
MA100:	2.315
MAexp7:	2.225
MAexp20:	2.212
MAexp50:	2.208
MAexp100:	2.210
Price / MA7:	+1.27%
Price / MA20:	+1.31%
Price / MA50:	-1.24%
Price / MA100:	-3.46%
Price / MAexp7:	+0.45%
Price / MAexp20:	+1.04%
Price / MAexp50:	+1.22%
Price / MAexp100:	+1.13%

Quotes : - 15 min delayed data - Euronext Lisbonne

News

The last news published on REN 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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