RNRG Global X Renewable Energy Producers ETF Forecast, Technical & Fundamental Analysis

Momentum Indicator for RNRG turns negative, indicating new downward trend

RNRG saw its Momentum Indicator move below the 0 level on January 28, 2025. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 74 similar instances where the indicator turned negative. In of the 74 cases, the stock moved further down in the following days. The odds of a decline are at .

Technical Analysis (Indicators)

Bearish Trend Analysis

Following a 3-day decline, the stock is projected to fall further. Considering past instances where RNRG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for RNRG entered a downward trend on January 21, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.

The Moving Average Convergence Divergence (MACD) for RNRG just turned positive on January 23, 2025. Looking at past instances where RNRG's MACD turned positive, the stock continued to rise in of 41 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RNRG advanced for three days, in of 282 cases, the price rose further within the following month. The odds of a continued upward trend are .

RNRG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.