RENAULT SA (RNO.PA)       39.01  -0.02 (-0.04%)

39.01  -0.02 (-0.04%)

FR0000131906 - Common Stock

Technical Rating

8

We assign a technical rating of 8 out of 10 to RNO. Although RNO is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.



Both the short term and long term trends are positive. This is a very positive sign.
RNO is one of the better performing stocks in the Automobiles industry, it outperforms 92% of 14 stocks in the same industry.
A new 52 week high is currently being made by RNO, which is a very good signal! Especially since the S&P500 is only trading in the middle part of its 52 week range, so RNO is leading the market.
In the last month RNO has a been trading in the 35.23 - 39.64 range, which is quite wide. It is currently trading near the high of this range.
RNO has an average volume of 1409500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, RNO did better than 94% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

Statistics

1 Month 3 Months 6 Months 12 Months 7.93% 27.84% 31.06% 13.75% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 94.67 20.465 - 39.64
RNO Weekly chart
RNO Daily chart

Support/Resistance Analysis


32.18

39.42
When analyzing the support we can see 4 important areas.
  • A support zone ranging from 37.38 to 37.81. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • A support zone ranging from 36.47 to 36.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @33.43 from a trend line in the daily time frame.
  • Support @32.51 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
  • A resistance zone ranging from 39.02 to 39.03. This zone is formed by a combination of multiple trend lines in multiple time frames.

Setup Analysis

Setup Rating

6

Besides having an excellent technical rating, RNO also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 37.81, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
39.0437.371.67 (4.28%)23.38%
An entry @39.04. This is a Buy Stop order right above the resistance zone.An exit @37.37. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 1.67 points, which is 4.28%.For a 1.00% total portfolio risk, you can invest 23.38% of your capital in this trade.

  • The distance between exit and entry is rather small compared to the average daily movement of RNO. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
RNO Daily chart

RENAULT SA39.01

EPA:RNO (2/3/2023, 7:00:00 PM)-0.02 (-0.04%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Consumer Discretionary
GICS Industry Automobiles

Performance
Today -0.04% 1 Week 2.11%
2 Weeks 6.94% 1 Month 7.93%
3 Month 27.84% 6 Month 31.06%

Volatility
ATR(14) 1.21 ATR(20)% 3.16%
ATR Inc 25.27% Range Today 1.16

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
CRS 94.67 Mansfield 3.1
10 Day High 39.64 10 Day Low 36.28
20 Day High 39.64 20 Day Low 35.24
52 Week High 39.64 52 Week Low 20.47
CS1 End 37.81 CR1 Start 39.02

Volume & EV
DER(3) 1.34% DER(5) 1.07%
Volume 1.46M Volume Incr 20.58%
Vol(5) 1.75M Vol(50) 1.41M

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