RENEW ENERGY GLOBAL PLC-A (RNW) Stock Technical Analysis
USA - NASDAQ:RNW - GB00BNQMPN80 - Common Stock
7.69 USD
-0.03 (-0.39%)
7.68 USD
-0.01 (-0.13%)
Overall RNW gets a technical rating of 5 out of 10. RNW has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
RNW is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month RNW has a been trading in the 7.34 - 7.89 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
When comparing the yearly performance of all stocks, we notice that RNW is one of the better performing stocks in the market, outperforming 76% of all stocks. However, this relatively good performance is mostly due to a recent big move.
RNW is an average performer in the Independent Power and Renewable Electricity Producers industry, it outperforms 47% of 20 stocks in the same industry.
Although the technical rating is only medium, RNW does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 7.68, a Stop Loss order could be placed below this zone.
More info and screens
5.45
7.92
7 important support areas can be observed.
- A support zone ranging from 7.62 to 7.68. 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 7.46 to 7.49. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @6.99 from a trend line in the daily 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 @6.24 from a trend line in the weekly time frame.
- Support @5.51 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 7.69 to 7.84. 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 | NEUTRAL | NEUTRAL | The short term trend for RNW is neutral. |
| ChartMill Relative Strength | 76.33 | POSITIVE | RNW has a high relative strength, it outperformed 76.33% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of RNW is below 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) | 52.8 | NEUTRAL | The RSI value for RNW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests RNW has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 62.09 | NEUTRAL | The Stochastics value for RNW is a neutral value. |
| Average True Range in percent/ATR (20) | 1.76 | LOW VOLATILITY | The low ATR as a percentage value for RNW suggests low volalility. |
| Average Directional Index/ADX (14) | 16.83 | NEGATIVE | The low ADX value for RNW suggests a weak or negative 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)
7.69
-0.03 (-0.39%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Performance
% Chg-0.39%
1 Week0.52%
2 Weeks0.52%
1 Month-0.65%
3 Month17.4%
6 Month24.43%
12 Month17.23%
2 Year41.62%
3 Year27.74%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.14
ATR(20)%1.76%
ATR Inc-29.81%
Range Today0.08
ADR(20)0.13
ADR(20)%1.75%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS76.33
Mansfield0.46
10 Day High7.84
10 Day Low7.57
20 Day High7.89
20 Day Low7.35
52 Week High7.89
52 Week Low5.15
CS1 End7.68
CR1 Start7.69
Volume & EV
DER(3)-3.08%
DER(5)-1.44%
Volume587.80K
Volume Incr-15.62%
Vol(5)669.32K
Vol(50)822.61K