Renew Energy Global PLC-A (NASDAQ:RNW) Fits Minervini Trend Template with Strong Growth Momentum

Renew Energy Global PLC-A (NASDAQ:RNW) has become a possible choice for investors using Mark Minervini’s trend-following strategy and high-growth momentum investing. The Minervini Trend Template spots stocks in strong upward trends by checking moving averages, relative strength, and price action, while high-growth momentum investing looks for companies with increasing earnings and revenue growth. These methods combine to find stocks with both technical and fundamental growth potential.

Why RNW Matches the Minervini Trend Template

The Minervini Trend Template needs stocks to meet several technical conditions to confirm a strong upward trend. RNW meets these requirements:

• Price Above Key Moving Averages: RNW is trading above its 50-day ($7.14), 150-day ($6.66), and 200-day ($6.50) moving averages, showing steady upward movement.
• Increasing Moving Averages: The 150-day and 200-day moving averages are rising, supporting the stock’s long-term strength.
• Moving Average Order: The 50-day MA is above both the 150-day and 200-day MAs, a positive sign suggesting faster momentum.
• Price Compared to 52-Week Range: RNW is trading within 25% of its 52-week high ($7.77) and more than 30% above its 52-week low ($5.15), a key Minervini rule for spotting stocks with strong rebound potential.
• High Relative Strength: With a relative strength (RS) score of 84.87, RNW beats 84% of all stocks, a sign of market leadership.

These points fit Minervini’s approach of focusing on stocks in Stage 2 upward trends, those that have broken out of consolidation and are showing steady upward movement.

High Growth Momentum Fundamentals

Beyond technical strength, RNW shows improving growth numbers that attract momentum investors:

• Earnings Growth:
  • Quarterly EPS growth (Q2Q) jumped by 400% in the latest quarter.
  • Annual EPS growth (TTM) is 10.83%, with prior-year growth at 166.67%, showing strong earnings growth.
• Revenue Growth:
  • Quarterly revenue growth (Q2Q) rose to 56.68%, up from 15.50% in the previous quarter.
  • Annual revenue growth (TTM) is 19.36%, reflecting steady top-line growth.
• Profit Margins:
  • The latest quarter’s profit margin improved to 10.80%, up from negative or low margins in earlier periods.

These fundamentals suggest RNW is not only technically strong but also benefiting from better business performance, a key factor in high-growth investing.

Technical Analysis Summary

ChartMill’s technical report gives RNW a perfect 10/10 technical rating, noting:

• Strong short- and long-term upward trends.
• A bull flag pattern, indicating a possible continuation of its upward move.
• Support levels between $7.10 and $7.14, offering a clear risk-management area.
• Resistance near $7.60–$7.70, which, if broken, could signal more upside.

For a closer look at the technical setup, see the full technical analysis report here.

Conclusion

RNW makes a strong case for both trend-following and high-growth investors. Its fit with the Minervini Trend Template confirms a solid technical base, while its rising earnings and revenue growth highlight fundamental momentum. As the renewable energy sector keeps growing, RNW’s role as a leader in India’s utility-scale clean energy market adds to its investment appeal.

For investors looking for similar high-growth momentum stocks that meet the Minervini criteria, find more results via the High Growth Momentum + Trend Template screen.

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Always conduct your own research and consider your risk tolerance before making investment decisions.