RNU 2.15% 9.1¢ renascor resources limited

RNU chart, page-1628

  1. 738 Posts.
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    From my understanding (and take my analysis with a pinch of salt, as I'm somewhat new to T.A).
    My measurements include Bollinger Bands 30 day moving average (yes i know they should be set at 20 but i want to be more accurate), Bollinger Band Width, Relative Strength Index.

    Whilst the Bollinger mean (orange line) is trending downwards you can clearly see the thin funnel between the top band and bottom band is expanding from where it has been which indicates we are now moving to a time of increased volatility. The Bollinger band width (BBW20) (middle green line) is signalling a strong upward trend opposite to the orange line above, indicating a reversal is likely on the cards. The RSI is also showing that the stock is oversold (purple line bottom). If i'm reading this correctly those are two indicators of a possible upcoming reversal from negative to positive.
    https://hotcopper.com.au/data/attachments/3827/3827757-46c75046691c3048ca2a86a7745de499.jpg
 
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RNU (ASX) Chart
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