RNDR Analysis/Potential Long (SUCCESS)
RNDR Analysis/Potential Long (SUCCESS)
Render is looking decent on the weekly/monthly
Render has taken a nice move of 3.4% today. It’s been rather bullish on the weekly/monthly charts. Here is a look at the weekly, and a potential long opportunity.
The level indicated by the green arrow must be attacked for us to move up past that range. It will likely reject once it does, and could possibly fall as low as 2.1274, which would be the Weekly hold level for we’d need to hold continue the move up.
I think there is potential for price to reach 2.8393. Thats my weekly target atm. Good luck.
EDIT:5/18 10:26 CST
RNDR has pivoted on the 1min and 5min timeframe. It’s looking to attempt the “3” in the 1/3/5 cycle moves generally go thru. It will most likely reject off something roughly half way up this down trend, but whether it rejects off a hold level, or attacks a valley of a fractal move determines if it succeeds, or fails.