Renault SA Stock Forecast
Renault SA stock upgraded to Buy Candidate.
(Updated on May 02, 2024)
The Renault SA stock price gained 3.66% on the last trading day (Thursday, 2nd May 2024), rising from $9.84 to $10.20. During the last trading day the stock fluctuated 0.82% from a day low at $10.13 to a day high of $10.21. The price has risen in 6 of the last 10 days but is still down by -0.87% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately $136.39 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 36.98% during the next 3 months and, with a 90% probability hold a price between $13.55 and $16.21 at the end of this 3-month period.
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RNLSY Signals & Forecast
The Renault SA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $10.21. On a fall, the stock will find some support from the long-term average at approximately $10.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Renault SA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -6.78%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Renault SA stock
Renault SA finds support from accumulated volume at $10.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0830 between high and low, or 0.82%. For the last week, the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: $9.73 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (RNLSY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Renault SA to open at $10.18, and during the day (based on 14 day Average True Range), to move between $9.94 and $10.46, which gives a possible trading interval of +/-$0.262 (+/-2.57%) up or down from last closing price. If Renault SA takes out the full calculated possible swing range there will be an estimated 5.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.21 (0.10%) than the support at $10.07 (1.27%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Renault SA stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Renault SA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.421 Buy Candidate Upgraded
Predicted Opening Price for Renault SA of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$10.18 ( 0.186%) | $10.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNLSY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.26 | 0.627 % | |
R2 | 10.23 | 0.317 % | ||
R1 | 10.21 | 0.125 % | ||
Current price: | 10.20 | |||
Support | S1 | 10.15 | -0.497 % | |
S2 | 10.13 | -0.689 % | ||
S3 | 10.10 | -1.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.80 | 5.88 % | |
R2 | 10.29 | 0.88 % | ||
R1 | 10.21 | 0.0980 % | ||
Current price | 10.20 | |||
Support | S1 | 10.07 | -1.27% | |
S2 | 9.13 | -10.49% | ||
S3 | 8.13 | -20.27% |
RNLSY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 13, 2023 | May 15, 2023 | Jun 05, 2023 | $0.0550 | 0.778% |
2 | Apr 28, 2020 | Apr 28, 2020 | Apr 28, 2020 | $0.240 | 6.23% |
3 | Jun 05, 2019 | Jun 14, 2019 | Jul 11, 2019 | $0.80 | 6.95% |
4 | May 10, 2016 | May 10, 2016 | May 10, 2016 | $0.529 | 2.90% |
5 | May 08, 2015 | May 08, 2015 | May 08, 2015 | $0.422 | 1.98% |
FAQ
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