EMEREN GROUP LTD ADS - Daily - Technical analysis published on 03/08/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 10.38 USD
My targets
9.53 USD (-5.39%)
7.49 USD (-25.65%)
My analysis
RENESOLA is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 10.38 USD. The next support located at 9.53 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 7.49 USD. Below this support, sellers could then target 5.23 USD.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
5
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This analysis was given by savas. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The RENESOLA price is 10.07 USD. The price is lower by -7.10% since the last closing with the lowest point at 9.55 USD and the highest point at 11.31 USD. The deviation from the price is +5.45% for the low point and -10.96% for the high point.9.55
11.31
10.07
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in Daily of this RENESOLA chart shows a bearish trend. 67.86% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are bearish. There is still some doubt about the decline in the price.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Black hanging man / hammer
Type : Neutral
Timeframe : Daily
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 1.92 | 5.23 | 10.07 | 10.38 | 14.34 | 20.70 |
| Change (%) | -80.93% | -48.06% | - | +3.08% | +42.40% | +105.56% |
| Change | -8.15 | -4.84 | - | +0.31 | +4.27 | +10.63 |
| Level | Major | Minor | - | Major | Minor | Intermediate |
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 | 5.59 | 7.07 | 8.96 | 10.44 | 12.33 | 13.81 | 15.70 |
| Camarilla | 9.91 | 10.22 | 10.53 | 10.84 | 11.15 | 11.46 | 11.77 |
| Woodie | 5.79 | 7.17 | 9.16 | 10.54 | 12.53 | 13.91 | 15.90 |
| Fibonacci | 7.07 | 8.36 | 9.16 | 10.44 | 11.73 | 12.53 | 13.81 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.29 | 4.13 | 7.49 | 11.91 | 15.27 | 19.69 | 23.05 |
| Camarilla | 8.70 | 9.41 | 10.13 | 10.84 | 11.55 | 12.27 | 12.98 |
| Woodie | -0.83 | 3.87 | 6.95 | 11.65 | 14.73 | 19.43 | 22.51 |
| Fibonacci | 4.13 | 7.11 | 8.94 | 11.91 | 14.89 | 16.72 | 19.69 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -4.31 | 4.11 | 9.53 | 17.95 | 23.37 | 31.79 | 37.21 |
| Camarilla | 11.13 | 12.40 | 13.67 | 14.94 | 16.21 | 17.48 | 18.75 |
| Woodie | -5.82 | 3.36 | 8.02 | 17.20 | 21.86 | 31.04 | 35.70 |
| Fibonacci | 4.11 | 9.40 | 12.67 | 17.95 | 23.24 | 26.51 | 31.79 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.16 | |
| MACD (12,26,9): | -2.4900 | |
| Directional Movement: | -23.30 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 13.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 15.46 | |
| Elder Ray (13): | -4.10 | |
| Super Trend (3,10): | 17.62 | |
| Zig ZAG (10): | 10.68 | |
| VORTEX (21): | 0.7000 | |
| Stochastique (14,3,5): | 13.44 | |
| TEMA (21): | 10.51 | |
| Williams %R (14): | -82.95 | |
| Chande Momentum Oscillator (20): | -5.74 | |
| Repulse (5,40,3): | -5.9500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -1.2200 | |
| Courbe Coppock: | 81.14 |
| MA7: | 13.14 | |
| MA20: | 17.30 | |
| MA50: | 19.23 | |
| MA100: | 12.19 | |
| MAexp7: | 12.71 | |
| MAexp20: | 16.06 | |
| MAexp50: | 16.66 | |
| MAexp100: | 13.54 | |
| Price / MA7: | -23.36% | |
| Price / MA20: | -41.79% | |
| Price / MA50: | -47.63% | |
| Price / MA100: | -17.39% | |
| Price / MAexp7: | -20.77% | |
| Price / MAexp20: | -37.30% | |
| Price / MAexp50: | -39.56% | |
| Price / MAexp100: | -25.63% |
Quotes :
2021-03-08 18:47:50
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15 min delayed data
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NYSE Stocks
News
Don"t forget to follow the news on RENESOLA. At the time of publication of this analysis, the latest news was as follows:
- ReneSola Power to Present at Arctic Securities Solar Power Webinar
- ReneSola Power to Participate in Upcoming Virtual Investor Conferences
- ReneSola Power Announces Closing of $250 Million Registered Direct Offering of ADSs
- ReneSola Power Announces $250 Million Registered Direct Offering of ADSs
- ReneSola Power Announces Closing of $40.0 Million Registered Direct Offering
This member declared not having a position on this financial instrument or a related financial instrument.
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