Renergen Prints a Rounding Bottom Pattern which is Bullish. I had parked this one in my Bottom Drawer, almost gave up on any Hope. Last had a look in early January. Seeing the recent price action made have another look, and it's starting to look good. Seems the recent incoming JSE Tide on Commodity Stocks could be lifting many boats. The Chart is self...
BOX Formation has formed on Renergen. Also there is a rounding bottom. The price has broken above the neckline of the Rounding Bottom but not the box form yet. Once it does, we should get an easy indication that the market wants to head up. The nature of the analysis is Medium probability due to Price>20MA Price<200MA Target 1 will be to R21.82
The last time we looked at this instrument was in August 2023 when it was predicted that price may fly or decide to take a dunk to levels around R9.50 to cover the right shoulder downward-projection of the "Head and Shoulders" pattern that was painted if it breaks the neckline. Price proceeded to impulsively break the neckline towards the end of September 2023 and...
Renergen (REN) describes itself as an "...integrated alternative energy business" which invests in renewable energy projects in Africa. The company listed on the JSE in June 2015 and has been losing money every year since. This is reflected in its falling share price. Renergen is investing in liquified natural gas (LNG) and helium. The R125m rights issue was fully...
Cup and Handle seems to now be forming on Renergen. It seems like there is a change in the wind for the stock as last year we predicted a big crash which struck at R9.33. And This time around, we're seeing a Cup and Handle form. It's not exactly there yet and we do need a break above the brim. But when it does so, we will see the price go above 200MA and...
Renergen (REN) describes itself as an "...integrated alternative energy business" which invests in renewable energy projects in Africa. The company listed on the JSE in June 2015 and has been losing money every year since. This is reflected in its falling share price. The company is investing in liquified natural gas (LNG) and helium. Now it is planning to list on...
Renergen recent cool off of cilliers may be forming a bottom. 2020 prices now in play. JSE overall a terrible year but energy sector exploding giving confidence for foreign investors. Looking to grow my position here.
Renergen (REN) describes itself as an "...integrated alternative energy business" which invests in renewable energy projects in Africa. The company listed on the JSE in June 2015 and has been losing money every year since. This is reflected in its falling share price. The company is investing in liquified natural gas (LNG) and helium. Now it is planning to list on...
Renergen (REN) describes itself as an "...integrated alternative energy business" which invests in renewable energy projects in Africa. The company listed on the JSE in June 2015 and has been losing money every year since. This is reflected in its falling share price. The company is investing in liquified natural gas (LNG) and helium. Now it is planning to list on...
Huge Head and Shoulders Pattern Identified by Source_Sailor & Woodcutter. Thanks to the above analysts. I've simplified the Chart to LINE to show the Pattern. This now could be a reason why this Stock is playing out as seen. There must be some other Fundamental reasons for this. I hope the Pain is short lived for those in this Long, as I am one. Regards Graham.
M Formation formed on Renergen. The price came down and hit the target at R9.33... Now we had a bfreakway gap with testing at the low, which shot right back up. This is showing there is more buying volume coming in. However, we aren't seeing any strong bullish signs yet. I think the price needs to consolidate and form a higher low, then we will have some form...
Levels of interest on the Renergen chart that is currently under pressure... will buyers step up? Short term head and shoulders has almost fully played out and last chance stretched to the tippy toe fib retracement time high to low approaching.
Applying the principles of the classic Wyckoff Method: This is what will need to happen: After closing the gap at 1340 which acted as a strong magnet in the absence of positive share news, Renergen must now quickly move back above the trading range in order to confirm this move as a spring. The share may find support from the rising natgas prices and a weaker...
Step nr one is regaining this channel it lost before the major capitulation, which it seems to have, but will have to close within the channel. Step nr 2 will be closing above the channel around the gap fill area of 1326 which could act as a support base. A hard road of higher highs and higher lows
Since the analysis, we saw Renergen formed a Descending Triangle / Triple Top formation. The price broke below the neckline at R18.30. And in just two short months, it's been carnage for the market. It's pierced the 9.33 target, and now we need to wait for a consolidation range before we predict where it is more likely to go. I'm not buying this company...
See link below for previous analysis. Renergen has yet to fulfil its potential and is yet to post a profitable year. Much is written about the potential of the company and that is always the risk with commodity/resource stocks that list while still in their startup phase. The chart does not look pretty. Recent downside momentum, partially fueled by twitter/X...
Renergen (REN) describes itself as an "...integrated alternative energy business" which invests in renewable energy projects in Africa. The company listed on the JSE in June 2015 and has been losing money every year since. This is reflected in its falling share price. The company is investing in liquified natural gas (LNG) and helium. Now it is planning to list on...
JSE:REN has had its share price suffer quite the beatdown since April 2022. Price has painted a clear and worrying Head and Shoulders pattern from February 2021 to date. Interesting developments however are keeping the instrument alive and invalidation of this huge H/S pattern could send the share price to levels never thought of before. Considering the recent...