RLT trade ideas
RLT @ 19 Oct 2021Text me if you have any questions/comments for me.
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RLT
- First time doing a written analysis on RLT
- Stock has a history of sharp and sudden price movements that are usually reserved for penny stocks
- It’s super volatile and may not be a right fit for some investors’/traders’ risk appetite
- Uptrends are not well-established with only 1-2 waves of HHs and HLs before a strong retracement takes place -> Trend will be difficult to trade as a Trend Follower
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a series of HHs and HLs to properly establish itself
Renergen RLT V bottom recoveryNie change in market structure with that V bottom recovery on RLT and a sweet break and gap up off the next line.
Already in a position but looking to start pyramiding orders on this pull back and trade the trend up.
first target around 2.26 but chasing the 2.80 highs by end of the year isnt out of the question which is over 100% from the v bottom.
ASX company RLT (Renergen Limited)Dual listed (Australia & South Africa) Renergen is a hidden gem, that appears quite undervalued and is now trading at it's lowest point since beginning of 2021 when it saw a substantial price spike. Price looks to have reached a technical support level on the ASX and we are seeing bullish price divergence indicating a swing back to the upside may be close by.
Renergen (RLT) hold the only onshore petroleum production right is South Africa, already have a proven gas resource and have recently uncovered some of the highest helium content readings globally and as a result they have penned an MOU with one of Germany's prestige automobile companies. They also have a strong management team with deep experience in gas production and South African banking and governance. Fundamentally this looks good and now technically it looks like we are reaching a good buy in price.
I've used 2 tops as Fib retracement levels that both anchor to the same take off point when the price exploded in the beginning of the year, this creates Fib retracement "zones" instead of a single price line and the chart clearly shows that these zones have been important as the price has been falling. The price bounces around these zones quite a lot. Currently we have broken below the 0.382 retracement zone but now receiving support from the volume (refer Volume profile) as we are now at the heaviest traded volume area since beginning of 2021 and the RSI vs price is now showing bullish divergence. If the price does not move higher from here then the next Fib level below (level 0.236) is between $1.43 - $1.46. If we break above the downward trend line (in white) then this could be the beginning of the reversal and would be an extremely cheap entry for a company with such strong long term prospects.
***This is my personal opinion and I'm not a paid advisor, please DYOR before investing***
JSE 30-Day challenge: Day #6 REN6th Day. Today we place order for under-performed energy stocks.
I have the idea to start some high-risk/high return game. The main object to post one idea per each day for 30 days in a row.
Goals:
1. Buy stocks every day.
2. Keep balance at least of ZAR150.000 on 20 June
2. At least 30% of picked up stocks need to hit 25% profit gain.
Rules:
Only JSE stock exchange.
The initial budget is ZAR300.000
Limit per one trade from ZAR5.000 to ZAR10.000
Spend no more than 1 hour per day to buy any stock and publish the idea.
Last day to buy stocks - 20 May
Last day to sell stocks - 20 June
Log:
1st day is JSE:MCG ~9100 p/s
2nd day is JSE:NHM ~8325 p/s
3rd day is JSE:PBG ~191 p/s
4th day is JSE:QFH ~362 p/s
5th day is JSE:WEZ ~47 p/s
6th day is JSE:REN ~ 1100 p/s
