RENEW ENERGY GLOBAL PLC-A (RNW) Technical Analysis
NASDAQ:RNW • GB00BNQMPN80
Taking everything into account, RNW scores 1 out of 10 in our technical rating. RNW scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- 86% of all other stocks performed better in the past year than RNW.
- RNW is part of the Independent Power and Renewable Electricity Producers industry. There are 20 other stocks in this industry, of which 94% are performing better than RNW.
- RNW is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month RNW has a been trading in the 5.20 - 5.60 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is bad, RNW does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 5.19, a Stop Loss order could be placed below this zone.
More info and screens
5.10
We found 1 important support area.
- A support zone ranging from 5.15 to 5.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 5.42 to 5.69. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @6.86 from a trend line in the daily time frame.
- Resistance @7.67 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 | DOWN | NEGATIVE | The long term trend for RNW is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for RNW is neutral. |
| ChartMill Relative Strength | 14.93 | NEGATIVE | RNW has a low relative strength, it was outperformed by 85.07% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of RNW is below the rising 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) | DOWN | NEGATIVE | The current price of RNW is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 42.96 | 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. |
| Stochastics (14,3) | 26.57 | NEUTRAL | The Stochastics value for RNW is a neutral value. |
| Average True Range in percent/ATR (20) | 2.65 | MEDIUM VOLATILITY | The ATR as a percentage value for RNW suggests some volalility. |
| Average Directional Index/ADX (14) | 18.46 | NEGATIVE | The low ADX value for RNW suggests a weak or negative trend. |
RNW Technicals: Chart, Performance Metrics, Trend & Indicators
5.34
+0.06 (+1.14%)
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 1 / 10 to RNW.
Can you provide the trend direction for RENEW ENERGY GLOBAL PLC-A?
The current trend direction for RENEW ENERGY GLOBAL PLC-A (RNW) is Bearish.
What is the RSI signal for RNW stock?
RENEW ENERGY GLOBAL PLC-A (RNW) has an RSI value of 42.9638. This indicates that the stock is currently neutral.
Can you provide the MACD signal for RENEW ENERGY GLOBAL PLC-A?
The MACD indicator for RENEW ENERGY GLOBAL PLC-A (RNW) has a value of -0.00538138, indicating a bearish trend.
What is the support and resistance level for RNW stock?
RENEW ENERGY GLOBAL PLC-A (RNW) has a support level at 5.19 and a resistance level at 5.42. Check the full technical report for our detailed analysis of RNW support and resistance levels.