REN Stock Long

Wyckoff Analysis:

Previous markup channel is obvious.

A: Not a huge increase in vol. after selling climax suggests reaccumulation.
B: Change of character suggests cause being built. Vol. decrease on SOS (sign of strength) and increase on dip ( spring ) gives away (re)accumulation confirmation.
C: Spring shows highest vol. signature.
D: Low vol. rally away from spring into BUI (backing up into ice)
E: Markup to begin.

Point and figure chart calculations place TP range between $56 and $62. The exact TP will be decided once the range is closed in on and I can see new consolidation forming.
Comment: Forgot to add above:

Entry expects some drawdown to fill gap between then and previous day.
Comment: Using point and figure charting, TP area has now been calculated. Potential retest line and volume peak on spring has been added for easier understanding.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter