REN - Potential Breakout Forming? Wait for Confirmation!!
REN looks like it's ready to make some moves on the daily chart.
We see a clear parallel wedge, a bat style fractal that has similar proportions to a textbook bullish bat, RSI is in a very good position for growth, MACD is showing a huge bull divergence which could be the start of a new potential uptrend, and volume is good on the breakout so far (though still need more time on weekly for confirmation there!)
This should be a clear breakout or fakeout play, it's literally at the upper limits now so if we see a punch through look to snap some up on the retrace afterwards as we're likely to see more upside.
This isn't financial advice. Want some financial advice? Don't get baseboard heating, it will kill your hydro bill.
We see a clear parallel wedge, a bat style fractal that has similar proportions to a textbook bullish bat, RSI is in a very good position for growth, MACD is showing a huge bull divergence which could be the start of a new potential uptrend, and volume is good on the breakout so far (though still need more time on weekly for confirmation there!)
This should be a clear breakout or fakeout play, it's literally at the upper limits now so if we see a punch through look to snap some up on the retrace afterwards as we're likely to see more upside.
This isn't financial advice. Want some financial advice? Don't get baseboard heating, it will kill your hydro bill.
Comment:
TP 1 Hit
Comment:
too easy.
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