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 09/02/2024 (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

67%

28%

My opinion

Bullish above 2.324 EUR

My targets

2.488 EUR (+4.54%)

2.559 EUR (+7.52%)

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 2.324 EUR. The next resistance located at 2.488 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 2.559 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.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

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 rating is 2.380 EUR. The price registered an increase of +0.63% on the session with the lowest point at 2.360 EUR and the highest point at 2.380 EUR. The deviation from the price is +0.85% for the low point and 0% for the high point.

2.360

2.380

The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.

Opening Gap DOWN

Type : Bearish

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 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

Technical analysis of this Daily chart of REN indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near resistance of channel

Type : Bearish

Timeframe : Daily

Near resistance of triangle

Type : Bearish

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	2.266	2.324	2.380	2.405	2.488	2.559
Change (%)	-8.32%	-4.79%	-2.35%	-	+1.05%	+4.54%	+7.52%
Change	-0.198	-0.114	-0.056	-	+0.025	+0.108	+0.179
Level	Minor	Major	Intermediate	-	Major	Intermediate	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	2.345	2.355	2.360	2.370	2.375	2.385	2.390
Camarilla	2.361	2.362	2.364	2.365	2.366	2.368	2.369
Woodie	2.343	2.354	2.358	2.369	2.373	2.384	2.388
Fibonacci	2.355	2.361	2.364	2.370	2.376	2.379	2.385

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.320	2.335	2.350	2.365	2.380	2.395	2.410
Camarilla	2.357	2.360	2.362	2.365	2.368	2.371	2.373
Woodie	2.320	2.335	2.350	2.365	2.380	2.395	2.410
Fibonacci	2.335	2.347	2.354	2.365	2.377	2.384	2.395

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.258	2.292	2.328	2.362	2.398	2.432	2.468
Camarilla	2.346	2.352	2.359	2.365	2.371	2.378	2.384
Woodie	2.260	2.293	2.330	2.363	2.400	2.433	2.470
Fibonacci	2.292	2.318	2.335	2.362	2.388	2.405	2.432

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):	55.27
MACD (12,26,9):	0.0060
Directional Movement:	2.048
AROON (14):	-28.571
DEMA (21):	2.371
Parabolic SAR (0,02-0,02-0,2):	2.329
Elder Ray (13):	0.004
Super Trend (3,10):	2.308
Zig ZAG (10):	2.380
VORTEX (21):	1.0100
Stochastique (14,3,5):	73.33
TEMA (21):	2.370
Williams %R (14):	0.00
Chande Momentum Oscillator (20):	0.030
Repulse (5,40,3):	1.0080
ROCnROLL:	1
TRIX (15,9):	0.0380
Courbe Coppock:	0.81

MA7:	2.367
MA20:	2.363
MA50:	2.343
MA100:	2.312
MAexp7:	2.368
MAexp20:	2.363
MAexp50:	2.346
MAexp100:	2.314
Price / MA7:	+0.55%
Price / MA20:	+0.72%
Price / MA50:	+1.58%
Price / MA100:	+2.94%
Price / MAexp7:	+0.51%
Price / MAexp20:	+0.72%
Price / MAexp50:	+1.45%
Price / MAexp100:	+2.85%

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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