R3NK - Short term short tradeIt has been consolidated in this level for a long time, it will generally try to make an upward price actions.
however we expect a small correction right before here.
RENK Group AG
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Market insights
RENK Elliott-Wave AnalysisR3NK chart probaly formed the Wave(1) after IPO.
Since the Top in Apr '24, we are stuck in a Downtrend.
Im expecting the chart, to establish a bottom in this blue pricerange.
If this support breaks, we could potentially fall much lower.
R3NK - +30% upside with 1:2.5 RRNice set-up and due a reversal play for the first run since Feb 2024.
RENK "Long" is the trade of year ! Disclaimer: This is not a financial advise.
RENK is a new IPO for German defense industry however the company was found in 1873 in Augsburg.
They produce back-bone parts of the German 21st century mighty war machine "Leopard 2".
Also have to note here, that Germany is about to pour in billions of euros for producing armed vehicles and RENK produces most important components of all of them !
They would also give payout potentially a dividend for first time.
According to my analysis, buy these shares as much as possible while they are cheap.
Do not leverage, cause could be really high volatility
Trade safe, Trade good, Make money !
