Renault SA Stock Forecast
Red day on Tuesday for Renault SA stock after losing 1.04%
(Updated on May 21, 2024)
The Renault SA stock price fell by -1.04% on the last day (Tuesday, 21st May 2024) from 49.79€ to 49.27€. During the last trading day the stock fluctuated 2.65% from a day low at 48.67€ to a day high of 49.96€. The price has risen in 6 of the last 10 days and is up by 2.35% over the past 2 weeks. Volume has increased on the last day by 348 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 863 thousand shares were bought and sold for approximately 42.54€ million.
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 48.90€ 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 28.70% during the next 3 months and, with a 90% probability hold a price between 62.94€ and 72.99€ at the end of this 3-month period.
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RNO.PA 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 49.77€. On a fall, the stock will find some support from the long-term average at approximately 48.89€. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -2.63%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Renault SA stock
Renault SA finds support from accumulated volume at 48.82€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 1.29€ (2.65%) between high and low. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: 47.03€ (-4.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 62 days ago.)
Trading Expectations (RNO.PA) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Renault SA to open at 49.30€, and during the day (based on 14 day Average True Range), to move between 48.08€ and 50.46€, which gives a possible trading interval of +/-1.19€ (+/-2.42%) up or down from last closing price. If Renault SA takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 49.60€ (0.67%) than the support at 48.82€ (0.91%), 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.
Current score: 1.014 Buy Candidate Unchanged
Predicted Opening Price for Renault SA of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| 49.30€ ( 0.0609%) | 49.27€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNO.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.59 | 2.68 % | |
| R2 | 50.10 | 1.68 % | ||
| R1 | 49.79 | 1.06 % | ||
| Current price: | 49.27 | |||
| Support | S1 | 48.81 | -0.94 % | |
| S2 | 48.50 | -1.56 % | ||
| S3 | 48.01 | -2.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.32 | 2.13 % | |
| R2 | 50.18 | 1.85 % | ||
| R1 | 49.60 | 0.670 % | ||
| Current price | 49.27 | |||
| Support | S1 | 48.82 | -0.91% | |
| S2 | 46.74 | -5.13% | ||
| S3 | 41.46 | -15.85% |
RNO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | May 24, 2024 | 1.85€ | 3.75% |
| 2 | May 17, 2023 | May 17, 2023 | May 17, 2023 | 0.250€ | 0.765% |
| 3 | Apr 30, 2020 | Apr 30, 2020 | Apr 30, 2020 | 1.10€ | 6.08% |
| 4 | Feb 14, 2019 | Jun 18, 2019 | Jun 20, 2019 | 3.55€ | 6.47% |
| 5 | Feb 16, 2018 | Jun 21, 2018 | Jun 25, 2018 | 3.55€ | 4.75% |
FAQ
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