RENEW ENERGY GLOBAL PLC-A (RNW) Stock Technical Analysis
NASDAQ:RNW - Nasdaq - GB00BNQMPN80 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to RNW. Both in the recent history as in the last year, RNW has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that RNW is one of the better performing stocks in the market, outperforming 84% of all stocks. We also observe that the gains produced by RNW over the past year are nicely spread over this period.
RNW is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so RNW is leading the market.
RNW is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
RNW has an average volume of 1016330 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
RNW is an average performer in the Independent Power and Renewable Electricity Producers industry, it outperforms 44% of 19 stocks in the same industry.
In the last month RNW has a been trading in a tight range between 7.41 and 7.76.
RNW has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. Another positive sign is the recent Pocket Pivot signal.
- 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.
More info and screens
5.21
7.78
When analyzing the support we can see 7 important areas.
- A support zone ranging from 7.10 to 7.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @6.97 from a trend line in the weekly time frame.
- Support @6.76 from a horizontal line in the daily time frame.
- A support zone ranging from 6.54 to 6.54. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @6.10 from a trend line in the weekly time frame.
- Support @5.51 from a horizontal line in the weekly time frame.
- Support @5.26 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 7.60 to 7.70. This zone is formed by a combination of multiple trend lines and important moving averages 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 | UP | POSITIVE | The long term trend for RNW is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for RNW is up. |
| ChartMill Relative Strength | 84.87 | POSITIVE | RNW has a high relative strength, it outperformed 84.87% 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) | UP | POSITIVE | The current price of RNW is above the rising 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) | 58.46 | NEUTRAL | The RSI value for RNW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests RNW has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 41.78 | NEUTRAL | The Stochastics value for RNW is a neutral value. |
| Average True Range in percent/ATR (20) | 1.88 | LOW VOLATILITY | The low ATR as a percentage value for RNW suggests low volalility. |
| Average Directional Index/ADX (14) | 33.17 | POSITIVE | The high ADX value value for RNW 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 7.71 | 7.43 | 0.28 (3.63%) | 25.00% |
| An entry @7.71. This is a Buy Stop order right above the resistance zone. | An exit @7.43. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.28 points, which is 3.63%. | For a 0.91% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
7.6
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg0%
1 Week1.74%
2 Weeks-0.65%
1 Month-0.91%
3 Month20.44%
6 Month17.28%
12 Month29.47%
2 Year24.59%
3 Year12.09%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.14
ATR(20)%1.88%
ATR Inc10.12%
Range Today0.13
ADR(20)0.14
ADR(20)%1.87%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.87
Mansfield1.13
10 Day High7.77
10 Day Low7.44
20 Day High7.77
20 Day Low7.41
52 Week High7.77
52 Week Low5.15
CS1 End7.14
CR1 Start7.6
Volume & EV
DER(3)0.79%
DER(5)1.76%
Volume423.60K
Volume Incr-47.83%
Vol(5)686.38K
Vol(50)1.02M