TransAlta Renewables Inc (RNW.CA) Stock Technical Analysis
TSX:RNW - Toronto Stock Exchange - CA8934631091 - Common Stock - Currency: CAD
We assign a technical rating of 1 out of 10 to RNW. RNW has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
When comparing the performance of all stocks over the past year, RNW turns out to be only a medium performer in the overall market: it outperformed 56% of all stocks.
RNW is part of the Independent Power and Renewable Electricity Producers industry. There are 39 other stocks in this industry, RNW did better than 52% of them.
RNW is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so RNW is lagging the market slightly.
In the last month RNW has a been trading in the 11.76 - 13.28 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
The technical rating of RNW is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
10.66
13.79
When analyzing the support we can see 3 important areas.
- A support zone ranging from 11.94 to 11.99. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @11.22 from a horizontal line in the daily time frame.
- A support zone ranging from 10.77 to 10.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 12.62 to 13.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @13.32 from a horizontal line in the daily time frame.
- A resistance zone ranging from 13.56 to 13.65. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for RNW.CA is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for RNW.CA is down. |
| ChartMill Relative Strength | 56.47 | NEUTRAL | RNW.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of RNW.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of RNW.CA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RNW.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 45.24 | NEUTRAL | The RSI value for RNW.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests RNW.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 54.2 | NEUTRAL | The Stochastics value for RNW.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 1.81 | LOW VOLATILITY | The low ATR as a percentage value for RNW.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 29.44 | POSITIVE | The high ADX value value for RNW.CA suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
TSX:RNW (10/10/2023, 7:00:00 PM)
12.48
+0.14 (+1.13%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg1.13%
1 Week3.91%
2 Weeks-2.58%
1 Month-5.88%
3 Month-5.74%
6 Month-0.24%
12 Month-1.81%
2 Year-31.88%
3 Year-25.27%
5 Year15.02%
10 Year21.17%
15 YearN/A
Volatility
ATR(14)0.25
ATR(20)%1.81%
ATR Inc7.52%
Range Today0.26
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS56.47
Mansfield-0.55
10 Day High12.93
10 Day Low11.76
20 Day High13.28
20 Day Low11.76
52 Week High14.74
52 Week Low10.63
CS1 End11.99
CR1 Start12.62
Volume & EV
DER(3)2.26%
DER(5)2.01%
Volume880.84K
Volume Incr119.04%
Vol(5)1.36M
Vol(50)556.46K