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REN price at risk of 50% drop after a bearish trading pattern shows up -Breaking


Ren has great prospectsRENThe chances of the stock continuing to rebound to higher highs seem slim, as an obvious bearish reversal pattern emerges.

Dobbed Head and shouldersWhen the price form three peaks, the arrangement is called “the setup”. The middle peak (called head) is longer than any of the other two. These peaks’ bottoms are supported by the neckline.

Illustration of the head-shoulder pattern. Source: Corporate Finance Institute
daily price chart featuring H&S setup. TradingView
The weekly price chart for REN/USD features a triangular symmetrical triangle. TradingView
RenVM volume and value over multiple years Source: