Renault SA Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Renault SA stock price ended at $9.84 on Wednesday, after losing 0.304%.
(Updated on May 01, 2024)
The Renault SA stock price fell by -0.304% on the last day (Wednesday, 1st May 2024) from $9.87 to $9.84. During the last trading day the stock fluctuated 2.04% from a day low at $9.82 to a day high of $10.02. The price has risen in 6 of the last 10 days but is still down by -3.81% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -8 thousand shares and in total, 12 thousand shares were bought and sold for approximately $119.05 thousand.
Given the current short-term trend, the stock is expected to rise 38.34% during the next 3 months and, with a 90% probability hold a price between $13.61 and $16.32 at the end of this 3-month period.
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RNLSY Signals & Forecast
There are few to no technical positive signals at the moment. The Renault SA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $10.21 and $10.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.07%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Renault SA stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.13 and $8.13. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Renault SA finds support just below today's level at $9.13. If this is broken, then the next support from accumulated volume will be at $8.13 and $7.62.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.200 between high and low, or 2.04%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RNLSY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Renault SA to open at $9.89, and during the day (based on 14 day Average True Range), to move between $9.59 and $10.09, which gives a possible trading interval of +/-$0.253 (+/-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 5.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.07 (2.34%) than the support at $9.13 (7.22%), 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?
The Renault SA stock holds several negative signals and despite the positive trend, we believe Renault SA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.342 Sell Candidate Unchanged
Predicted Opening Price for Renault SA of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $9.89 ( 0.542%) | $9.84 |
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 | 10.09 | 2.57 % | |
| R2 | 10.02 | 1.80 % | ||
| R1 | 9.97 | 1.32 % | ||
| Current price: | 9.84 | |||
| Support | S1 | 9.82 | -0.234 % | |
| S2 | 9.77 | -0.714 % | ||
| S3 | 9.69 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.80 | 9.76 % | |
| R2 | 10.21 | 3.76 % | ||
| R1 | 10.07 | 2.34 % | ||
| Current price | 9.84 | |||
| Support | S1 | 9.13 | -7.22% | |
| S2 | 8.13 | -17.35% | ||
| S3 | 7.62 | -22.60% |
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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