RENERGEN USA TRIP, page-68

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Launched

2,412 Posts.

2608

26/07/21

10:55

Post #: 54769712
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Originally posted by Launched: ↑

Positive night for REN on Friday night. This was helped by the Sth African central bank softening its stance on rates so the JTOPI had a decent green push to finish the week.

JTOPI is coming into a heavy area of resistance now so will be good to see if can keep push going to add momentum to any positive move on REN.

Although REN had one of the most positive sessions in a long time it still failed to break resistance and volume was less than convincing.

Momentum indicators are turning positive, which is a plus, and any move north may see REN breakout properly.

If it fails to break resistance in next couple of sessions it looks as though it may not be too far away before it does (hopefully this coincides with Stefs trip and potentially good news).

Huge week on the macro side of things with big tech reporting. Considering Apple by itself has a bigger MC than the whole asx combined expect any moves on these companies to be felt in global markets.

Let's hope Stef can provide the catalyst to finally break out of this downward spiral and start the next leg up to reward us patient holders...

GLTAH
DYOR

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UPDATE : RLT BREAKOUT ALERT

SP has broken out from down trend in play since April!

Considering both RLT & REN both finished on resistance just as momentum indicators were turning positive, there was always a possibility that today was the day.

Still very early in session and volume isn't convincing enough yet but could this be the end of the last corrective wave?

And could this be the start of the much anticipated Wave 3 (usually the biggest impulse wave)?

A follow through in today's session then onto REN tonight will see us looking at next PT of $3.50-$4.75...

Bit of excitement to start the week. Let's hope it's just a taster for what's to come...

GLTAH
DYOR

RLT Price at posting: $1.64 Sentiment: Hold Disclosure: Held
15 Upvote

3 Great analysis

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