Renewable Energy Group OutlookMore downside first! Needs to test the bottom trendline of the descending broadening wedge before upside!
REGI
REGI - Renewables are the future. NOW IS THE MOMENT. Much of Europe may want to cut Russian natural gas dependence for good, but what will keep everyone warm for now?
Renewable Energy Group
As grim as the reality of a conflict in Ukraine may be, economically, it may serve as a major catalyst for Europe’s decarbonization efforts, forcing governments to invest in earnest in greater zero-emissions renewable energy sources and the electrification of cars and homes.
REGI landing levelsRenewable Energy Group was like a hype in the past year and emotional 1st wave of big cycle.
We going into correction during this year. Target levels to start growing positions is $49-54 with opportunities to deep into the $41 around.
REGI Daily LongNASDAQ:REGI daily is ready for a buy after a long process of rounded bottoms and now a trendline break with MACD confirmation.
Buy above Friday's high at 65.08
Stop loss under July 8th low at 57.90
Profit target is just under ATH at 116.90
Risk/Reward is 7.22
Can definitely pick a more modest profit target with a smaller risk reward if you want. Tailor to your preferences.
REGI BACK AT MAJOR SUPPORT LEVELSREGI as looked to find support again at last year's levels before it almost doubled post december. This may take time but if this support levels hold, we could see the price move back up. I will likely add more around these levels.
The 1 hr chart shows a double bottom with the little explosion of today. Im hoping these levels will hold and in a few months time we can test the ATH again.
I will add more in regi at these levels, just waiting for an entry after today's rise. Im hoping to add under more under 63.
This levels acted as a major support for the previous bull run so i am expecting them to act as support levels again this time around. My first PT would be 75.
REGI Neutral Possible Entry at 73.40$REGI has had a fantastic run since August of last year, running up almost 400%. REGI however has broken the 50 day SMA line which leads me to see it having more downside in the short term, going down to my price target of 73.40$. From there, REGI has the possibility of either breaking trend and continue down towards the low 50s where there is a lot of support for it or it can continue to maintain its trend and rise up to 120$. I see there to be many bullish catalysts for the stock including a Biden presidency, rising energy prices, and being undervalued compared to other companies in its industry. There are bearish warning signs which must be taken into consideration, a volatile stock/bond market, and REGI breaking the 20 day and 50 day SMA line. This is not financial advice, I am not advocating the buying or selling of REGI stock.
REGI - See other IDEAS, entries and Exits. Studying my trades and journals, I can see that I need to develope sitting power.
I seem to exit a lot of positions too soon and then I buy back; sometimes in my favor and sometimes not.
This is an area to work on- I am not going to be too hard on myself because I know it happens with many pros.
I am not a pro but I am studying many and this is part of the learning curve.
#REGI - in a green zoneCompany is well positioned for matching popular ESG investment principles.
It will continue to make money of state subsidies and may become a takeover target for traditional carbon industry players.
Technically might be in the middle of wave 5 with target at $82 and support arount $63
$REGI #REGI Breakout CanadiateThis looks like a bull flag breakout is going to happen soon, it is hugging the 20 & 50 MA if that holds, this is definitely breaking out much higher.
SELL REGI, SELL IT?ATH price, highly overbought, but with descents fundamentals.
My play is to short a bit this baby, with TP near Fibo lvl and ex-double top price range
