Overall RNW gets a technical rating of 5 out of 10. RNW was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
RNW has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 7.58. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 7.50, a Stop Loss order could be placed below this zone.
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6.35
When analyzing the support we can see 2 important areas.
- A support zone ranging from 7.29 to 7.50. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @6.41 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 7.58 to 7.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @8.20 from a horizontal line in the daily time frame.
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 | UP | POSITIVE | The long term trend for RNW is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for RNW is down. |
| ChartMill Relative Strength | 81.49 | POSITIVE | RNW has a high relative strength, it outperformed 81.49% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of RNW is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of RNW is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RNW is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.38 | NEUTRAL | The RSI value for RNW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests RNW has a positive trend. |
| Stochastics (14,3) | 73.33 | NEUTRAL | The Stochastics value for RNW is a neutral value. |
| Average True Range in percent/ATR (20) | 1.75 | LOW VOLATILITY | The low ATR as a percentage value for RNW suggests low volalility. |
| Average Directional Index/ADX (14) | 16.56 | NEGATIVE | The low ADX value for RNW suggests a weak or negative trend. |
7.52
+0.02 (+0.27%)
RENEW ENERGY GLOBAL PLC-A / RNW FAQ
What is the ChartMill technical rating of RENEW ENERGY GLOBAL PLC-A (RNW) stock?
ChartMill assigns a technical rating of 5 / 10 to RNW.
What is the trend direction for RNW stock?
The current trend direction for RENEW ENERGY GLOBAL PLC-A (RNW) is Bullish.
What is the RSI signal for RNW stock?
RENEW ENERGY GLOBAL PLC-A (RNW) has an RSI value of 48.3803. This indicates that the stock is currently neutral.
What is the buy/sell signal for RNW stock?
The buy/sell signal for RENEW ENERGY GLOBAL PLC-A (RNW) is hold as the short term and long term trends are mixed.
Can you provide the support and resistance levels for RENEW ENERGY GLOBAL PLC-A?
RENEW ENERGY GLOBAL PLC-A (RNW) has a support level at 7.5 and a resistance level at 7.58. Check the full technical report for our detailed analysis of RNW support and resistance levels.