Current Situation: Price Level: RNDR has been trading in a tight range with low volatility, indicated by the narrow Bollinger Band width. Technical Support: The Simple Moving Average (SMA) is acting as support for the price. Bullish Bias: The price structure remains positive, suggesting potential for an upward move. Upcoming Event: Apple’s WWDC on June 10th could be a catalyst for increased volatility, especially if there are mentions of AI, Octane, or Render, which are known to influence RNDR.
Trade Strategy: Entry Point: Enter a long position around $9.75. Take Profit Targets: First Target: $11.60 Second Target: $13.80 Stop Loss: Set a stop loss at $9.00 to manage risk.
Summary: RNDR is currently in a period of low volatility but is positioned for potential bullish movement, especially with the upcoming Apple WWDC event, which could act as a catalyst. The trade strategy involves entering at $9.75, with profit targets at $11.60 and $13.80. The stop loss is set at $9.00 to limit potential losses.
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