Renault - looking uptrand

hi, Renault stock is one very interesting one. It is like a child. It likes to make many funny things. It is full of emotion. It likes to make tricks.

Please look on the gan square - our full of color umbrella like a sun. It has got many light rays.

Please look on the patterns - it look like that bottom was 23 - 24 eur and it was a test. Right now 31 - 33 eur was also the test. Chart have to come back to the point 1/4 and 1/3 (uptrend) ; 1/2 and 1/1 is the test.

Waiting for new waves.

Please look on the dax and cac - maybe we will have a new top hill and maybe we will have to go down. Please look on Credit Agricol, BNP - the components of CAC - they look like in the cycle phase - distribution ...

I wish all the best.

Comment:

Hi, for the moment Renault reached it first goal - 40 eur.
We will see if 37 eur stop will move it up or we will go down?
It can be a down pattern - descending triangle like in PKO BP in year 2020
But I hope to see a ascending chanel - pattern - fork - HH is 40, middle point is 37 and LL is 35.
Looking in the past Renault had fork channel HH to LL around 15% to 20% move down and up so this time can be the same. We will see...

Comment:

For the moment we can see on the chart that we have head with shoulders, descending triangle all the time. The price did not move up above 40.
Price is more like to go down to 37 then to 36.
We got a problem with CAC and DAX because SMA200, 100 are in negative movement down. R is moving also down with CAC.
Credit Agr, PNB also did not move up above resistance - roof. There was a hope for new movement but it did not reach the goal.