REN

- EUR (-)

- 15 min delayed data - Euronext Lisbonne

Open:	-
Change:	-
Volume:	-

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

Type:	Stocks
Ticker:	RENE
ISIN:	PTREL0AM0008

REN - Daily - Technical analysis published on 08/08/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

33%

My opinion

Bullish above 2.264 EUR

My targets

2.405 EUR (+2.12%)

2.488 EUR (+5.65%)

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 2.264 EUR. The next resistance located at 2.405 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 2.488 EUR. After this resistance, buyers could then target 2.673 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 not called into question, despite technical indicators being indecisive.

Force

6.1

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 Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The REN price is 2.355 EUR. The price registered a decrease of -0.42% on the session with the lowest point at 2.355 EUR and the highest point at 2.370 EUR. The deviation from the price is 0% for the low point and -0.63% for the high point.

2.355

2.370

2.355

The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in Daily of this REN chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Bullish trend reversal : Moving Average 50

Type : Bullish

Timeframe : Daily

On the 18 technical indicators analysed, 6 are bullish, 6 are neutral and 6 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Williams %R indicator is back under -50

Type : Bearish

Timeframe : Daily

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 support of channel

Type : Bullish

Timeframe : Daily

Near support of triangle

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2.182	2.264	2.323	2.355	2.405	2.488	2.673
Change (%)	-7.35%	-3.86%	-1.36%	-	+2.12%	+5.65%	+13.50%
Change	-0.173	-0.091	-0.032	-	+0.050	+0.133	+0.318
Level	Minor	Major	Minor	-	Major	Intermediate	Major

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

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.323	2.332	2.348	2.357	2.373	2.382	2.398
Camarilla	2.358	2.360	2.363	2.365	2.367	2.370	2.372
Woodie	2.328	2.334	2.353	2.359	2.378	2.384	2.403
Fibonacci	2.332	2.341	2.347	2.357	2.366	2.372	2.382

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.267	2.293	2.342	2.368	2.417	2.443	2.492
Camarilla	2.369	2.376	2.383	2.390	2.397	2.404	2.411
Woodie	2.278	2.299	2.353	2.374	2.428	2.449	2.503
Fibonacci	2.293	2.322	2.340	2.368	2.397	2.415	2.443

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.152	2.208	2.277	2.333	2.402	2.458	2.527
Camarilla	2.311	2.322	2.334	2.345	2.357	2.368	2.379
Woodie	2.158	2.211	2.283	2.336	2.408	2.461	2.533
Fibonacci	2.208	2.256	2.286	2.333	2.381	2.411	2.458

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):	51.96
MACD (12,26,9):	0.0090
Directional Movement:	9.817
AROON (14):	28.572
DEMA (21):	2.361
Parabolic SAR (0,02-0,02-0,2):	2.392
Elder Ray (13):	0.010
Super Trend (3,10):	2.304
Zig ZAG (10):	2.355
VORTEX (21):	1.0480
Stochastique (14,3,5):	48.89
TEMA (21):	2.361
Williams %R (14):	-53.33
Chande Momentum Oscillator (20):	-0.025
Repulse (5,40,3):	0.3450
ROCnROLL:	1
TRIX (15,9):	0.0610
Courbe Coppock:	0.59

MA7:	2.355
MA20:	2.353
MA50:	2.333
MA100:	2.268
MAexp7:	2.356
MAexp20:	2.349
MAexp50:	2.327
MAexp100:	2.293
Price / MA7:	-0%
Price / MA20:	+0.08%
Price / MA50:	+0.94%
Price / MA100:	+3.84%
Price / MAexp7:	-0.04%
Price / MAexp20:	+0.26%
Price / MAexp50:	+1.20%
Price / MAexp100:	+2.70%

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:

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

About author

Londinia AI

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