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RENERGEN LIMITEDRENERGEN LIMITEDRENERGEN LIMITED

RENERGEN LIMITED

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Renegen lower ?So much hipe in this stock during 2022, and for good reason with its helium and natural gas story. However, this is a high risk stock as it is still in its baby shoes. Technical sentiment indicates that we might see #Renegen price even lower. The downtrend in #Renegen share price is now trading on the right shoulder neckline of the head & shoulders pattern it has formed, with a potential price target of R10.90. Tailwind for even lower prices is the broad negative sentiment in the markets due to macros and SA specific issues such as loadshedding.
JSE:REN
by chsmit
2
Renergen $JSEREN Almost Time to Load-upThe price for Renergen has been in a downtrend since rejection on the upper resistance of the broadening wedge. Ideally price must find support at the lower support trendline in blue. This should give price a good bounce initially to more than R30 or some 40% capital gain where profit can be harvested leaving some capital invested with increased price action monitoring. Recent volume shows capitulation which is somethin you always want to see near the bottom or turning point. Risk : If the broader market turns downwards then Renergen risks falling out of the broadening wedge preparing price to visit the pre-covid levels. These risks will be assessed into 2023 with updates.
JSE:RENLong
by runyamhere
2
$JSEREN - Renergen: Back To Pre-Hype LevelsRenergen has become a retail favourite since late 2020. I do not question the future potential of the company but the price over the last two years has been driven primarily by euphoria and speculation. The bear from the 4390 all-time high still looks strong on the downside and is well contained by a steep falling channel. There are no buy signals or reversal signs yet but it is a bit late to look at shorting so I will sit on my hands on this one.
JSE:REN
by Loyiso_BlaqueSoros_Mpeta
TRADE UPDATE: Renergen in the money and now we wait for a breakRev Inv Cup and Handle formed on Renergen. The price then broke below the Brim Level showing strong selling side to come. Also on the Daily there is now a Symmetrical Triangle pattern When the price breaks it's likely to continue to the downside as the pattern si a continuation pattern by nature. We saw strong downside to come from an even larger bearish formation on the weekly chart. 200>21>7 RSI<50 Target remains R12.52 ABOUT THE COMPANY Renergen is a South African based energy company that specializes in the production and distribution of natural gas. The company was founded in 2011 and is headquartered in Johannesburg, South Africa. Renergen's main focus is on the production of liquefied natural gas (LNG) from its flagship project, the Virginia Gas Project, located in the Free State Province of South Africa. The company is the first and only company in South Africa to hold a resource license for the commercial production of natural gas. Renergen's Virginia Gas Project is estimated to have over 40 years of reserves of natural gas, making it one of the largest gas reserves in the country. The company's liquefaction plant is designed to produce up to 20 million cubic meters of LNG per annum, making it one of the largest LNG plants in Africa.
JSE:RENShort
by Timonrosso
Renergen- Bursting higherAfter the recent news that their Virginia operation is officially pumping helium, we saw a couple of nice spikes in the price. Two gaps in a row to the upside which suggests that investors are piling in and buying at just about any price they can get. More significantly though, for me, is the fact that the price has burst through the 50 day moving average which in itself a bullish signal. Momentum has shifted and we can finally see some conviction and strength in the price. There is a technical level of resistance just below R28.00 but this time I think we breach that and would not be surprised if REN makes a run toward the 200 day moving average, currently at around R32.00.
JSE:RENLong
by RobbyP
RENI am positive on energy innovation and the like, but I am also cognizant of the chart and price action. A possible bear flag structure is developing just below the share’s 50-EMA which could target the downside gap at 2970c. Short/sell trigger is a break and/or close below 3627c with a target of 3215c using a stop-loss of 3842c. Currently trading at 3670c. Note the 14-RSI RSI fluctuating around a neutral regime which may shift to bearish on any deteriorating price action. Trading Levels: Sell on a break and/or close below 3627c Target: 3215c Stop-loss: 3842c
JSE:RENShort
by techpers
1
Long Pivots: WHL & RENWithin my research, among the new segments I've been adding, is a slide called LONG PIVOTS: It's geared to toward those with a short term view (intraday day and ultra short term traders), potentially looking for quick price appreciation. Key Trading Levels For Buy/Long Side Continuation The highlighted levels may or may not trigger during the upcoming trading session. Blue Line = Buy Trigger Red Line = Temporary Failure Required: Needs to hold trigger zone with strong bids. TF = Intraday, Ultra Short Term
JSE:REN
by LD_Perspectives
RENERGEN AGAIN? Lets be fair and say that the R41.00 high was a bit of an "overshoot" but the picture looks a lot more eye-catching now after a 23% retracement. A bit of sanity is back in the price and what a coincidence, the price found its feet at the newly established support. I still think there's still some good news to come from their Helium explorations so from a fundamental perspective, things are still very positive. Technically too, the price is very over-sold at the moment after a lot of profit taking but I think now, the stage is set for another bounce...
JSE:RENLong
by RobbyP
1