RNU has now potentially produced a bullish pattern if price doesn't break 0.17 Expecting resistance and reversal at 78.6 - 88.6 fib levels if bullish Otherwise we are highly likely to break the Bottom of 0.13 which will complete Regular Flat Pattern on the larger Time-frame
ASX:RNU moving above the trend line. A pull back to the 0.5 or 0 .618 fib (19 to 19.5c) represents good value. This would create a bullish running flat. BAM update is imminent and could be a catalyst to a move up to the mid 20c or 30c mark. RNU are also presenting in the Noosa Mining Conference 2023. Lots of potentially bullish news in the next few weeks but the...
In the channel, coming up to supply and resistance. On #watch
The chart shows a nicely formed triangle that has the potential for a break as it gets squeezed in the next week or so. looking for volume on a move. worth a watch
I have just been having a bit of a look around some of Australia's EV raw material type stocks and Renascor has been a bit of a monster over the last 12 months up around 1200%. From their Facts Page: renascor.com.au Renascor is developing a vertically integrated Battery Anode Material Manufacturing Operation in South Australia. Renascor’s Siviour Graphite...
Text me if you have any questions/comments for me. ----- RNU - Previous analysis was done on 15 Oct (red arrow) - Suggested waiting for a successful rebound before plotting entry if comfortable with high price volatility and strong overhead resistance - I also mentioned that if stock doesn’t recover to around 15 cents, the stock will likely break below the 12...
Text me if you have any questions/comments for me. ----- RNU - First time doing a written analysis on RNU - Doesn’t have a history of good uptrends but recent price action since July 2021 shows some promise that is also accompanied with sustainable volume - Price is below $0.50 which can usually lead to strong price volatility -> might not fit the risk appetite...
NICE big bullflag there folks. How low will it go? I'd think the waisteline at least. It's a bit open with the swing north and has a big vacuum to fill. If I owned it, I'd sell it. Now. But I don/t. I got shaken and didn't have spare $$ to get back in.l
RNU is most likely going to retrace and retest previous resistance as support, Trade safe.
RNU closed below the 50d ma, and on considerable volume seems to be following other players such as EGR down. Looks to be testing support around 7c, and if it breaks there, it may be headed to test the 200d MA at lower levels around 50c. Buying opportunity at those levels.
$RNU.asx breaking out, could see 7.0 tested imo..., indies and price action showing bullish strength..Let's see got a free carry on the oppies... Please ALWAYS DYOR First
Thinking $RNU might be about to change direction
The current MOU announcement has spiked the share price up, which has temporarily quelled the descending triangle break and halted the downward momentum seen on the Wave Indicator (dotted blue line). However, upon closer inspection, the spike itself is showing signs of weakness (MMAR reversal in spike). Oddly, a trading halt was announced the day after such...