REN - Daily - Technical analysis published on 04/09/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 2.265 EUR
My targets
2.135 EUR (-2.95%)
1.950 EUR (-11.36%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 2.265 EUR remains possible. It is advisable to trade REN with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 2.265 EUR. The next bearish objective for sellers is set at 2.135 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.950 EUR. In case of crossing, the next objective would be the support located at 1.824 EUR. PS: if there is a bullish break in the resistance located at 2.265 EUR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.4
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Additional analysis
Quotes
The REN rating is 2.200 EUR. On the day, this instrument gained +0.23% and was traded between 2.185 EUR and 2.200 EUR over the period. The price is currently at +0.69% from its lowest and 0% from its highest.2.185
2.200
2.200
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this REN chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 1.950 | 2.135 | 2.189 | 2.200 | 2.265 | 2.309 | 2.417 |
Change (%) | -11.36% | -2.95% | -0.50% | - | +2.95% | +4.95% | +9.86% |
Change | -0.250 | -0.065 | -0.011 | - | +0.065 | +0.109 | +0.217 |
Level | Intermediate | Minor | Major | - | Intermediate | Major | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2.163 | 2.172 | 2.183 | 2.192 | 2.203 | 2.212 | 2.223 |
Camarilla | 2.190 | 2.191 | 2.193 | 2.195 | 2.197 | 2.199 | 2.201 |
Woodie | 2.165 | 2.173 | 2.185 | 2.193 | 2.205 | 2.213 | 2.225 |
Fibonacci | 2.172 | 2.179 | 2.184 | 2.192 | 2.199 | 2.204 | 2.212 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2.115 | 2.145 | 2.160 | 2.190 | 2.205 | 2.235 | 2.250 |
Camarilla | 2.163 | 2.167 | 2.171 | 2.175 | 2.179 | 2.183 | 2.187 |
Woodie | 2.108 | 2.141 | 2.153 | 2.186 | 2.198 | 2.231 | 2.243 |
Fibonacci | 2.145 | 2.162 | 2.173 | 2.190 | 2.207 | 2.218 | 2.235 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1.965 | 2.040 | 2.120 | 2.195 | 2.275 | 2.350 | 2.430 |
Camarilla | 2.157 | 2.172 | 2.186 | 2.200 | 2.214 | 2.228 | 2.243 |
Woodie | 1.968 | 2.041 | 2.123 | 2.196 | 2.278 | 2.351 | 2.433 |
Fibonacci | 2.040 | 2.099 | 2.136 | 2.195 | 2.254 | 2.291 | 2.350 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 50.90 | |
MACD (12,26,9): | -0.0030 | |
Directional Movement: | -7.274 | |
AROON (14): | 71.428 | |
DEMA (21): | 2.186 | |
Parabolic SAR (0,02-0,02-0,2): | 2.144 | |
Elder Ray (13): | -0.001 | |
Super Trend (3,10): | 2.221 | |
Zig ZAG (10): | 2.200 | |
VORTEX (21): | 0.8740 | |
Stochastique (14,3,5): | 71.43 | |
TEMA (21): | 2.196 | |
Williams %R (14): | -19.05 | |
Chande Momentum Oscillator (20): | 0.050 | |
Repulse (5,40,3): | 0.2720 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.0500 | |
Courbe Coppock: | 2.63 |
MA7: | 2.199 | |
MA20: | 2.181 | |
MA50: | 2.205 | |
MA100: | 2.271 | |
MAexp7: | 2.195 | |
MAexp20: | 2.193 | |
MAexp50: | 2.215 | |
MAexp100: | 2.258 | |
Price / MA7: | +0.05% | |
Price / MA20: | +0.87% | |
Price / MA50: | -0.23% | |
Price / MA100: | -3.13% | |
Price / MAexp7: | +0.23% | |
Price / MAexp20: | +0.32% | |
Price / MAexp50: | -0.68% | |
Price / MAexp100: | -2.57% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
The latest news and videos published on REN at the time of the analysis were as follows:
- ANNOUNCEMENT OF 2023 ANNUAL RESULTS OF TONG REN TANG TECHNOLOGIES
- Flash News: OKG Technology Chairman Jeff Ren Outlines the Future of Web3 at Economist Impact's Technology for Change Asia 2024
- Flash News: OKG Technology Chairman Jeff Ren to Speak at Economist Impact's Technology for Change Asia Event in Hong Kong
- Flash News: OKG Technology Chairman Jeff Ren to Speak at Economist Impact's Technology for Change Asia Event in Hong Kong
- Xinhua Silk Road: Pien Tze Huang, Beijing Tong Ren Tang agree to boost bilateral cooperation, promote high-quality development of TCM
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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