TransAlta Renewables Inc (RNW.CA) Technical Analysis
TSX:RNW • CA8934631091
Current stock price
RNW.CA Technical Rating and Analysis
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.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- 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 32 other stocks in this industry, RNW did better than 64% 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.
RNW.CA Weekly and Daily overview Charts
RNW.CA Setup Rating and Analysis
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.
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RNW.CA Support and Resistance Analysis
10.66
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.
RNW.CA Technical Indicator Signal Analysis
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. |
RNW.CA Chart- and CandleStick Pattern Analysis
RNW.CA Technicals: Chart, Performance Metrics, Trend & Indicators
TSX:RNW (10/10/2023, 7:00:00 PM)
12.48
+0.14 (+1.13%)
TransAlta Renewables Inc / RNW.CA TA FAQ
What is the ChartMill technical rating of TransAlta Renewables Inc (RNW.CA) stock?
ChartMill assigns a technical rating of 1 / 10 to RNW.CA.
Can you provide the trend direction for TransAlta Renewables Inc?
The current trend direction for TransAlta Renewables Inc (RNW.CA) is Bearish.
What is the RSI signal for TransAlta Renewables Inc (RNW.CA) stock?
TransAlta Renewables Inc (RNW.CA) has an RSI value of 45.2368. This indicates that the stock is currently neutral.
What is the buy/sell signal for TransAlta Renewables Inc (RNW.CA) stock?
The buy/sell signal for TransAlta Renewables Inc (RNW.CA) is sell as both the short term and long term trends are negative.
What are the support and resistance levels for TransAlta Renewables Inc (RNW.CA) stock?
TransAlta Renewables Inc (RNW.CA) has a support level at 11.99 and a resistance level at 12.62. Check the full technical report for our detailed analysis of RNW.CA support and resistance levels.