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RNRG
ETF ticker: NASDAQ
AS OF
Dec 18, 04:54 PM (EDT)
Price
$8.64
Change
-$0.21 (-2.37%)
Net Assets
29.22M

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

Category Utilities
RNRG
Daily Signalchanged days ago
Gain/Loss if bought
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A.I.Advisor
a Summary for RNRG with price predictions
Dec 17, 2024

RNRG sees MACD Histogram crosses below signal line

RNRG saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on December 16, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 41 instances where the indicator turned negative. In of the 41 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on December 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on RNRG as a result. In of 73 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The 50-day moving average for RNRG moved below the 200-day moving average on November 20, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

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 December 17, 2024. 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 RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 8 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RNRG advanced for three days, in of 295 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.

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RNRG
Daily Signalchanged days ago
Gain/Loss if bought
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A.I. Advisor
published General Information

General Information

Category Utilities

Profile
Fundamentals
Details
Category
Utilities
Address
Global X Funds600 Lexington Avenue, 20th FloorNew York
Phone
+1 8884938631
Web
www.globalxfunds.com
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RNRG and ETFs

Correlation & Price change

A.I.dvisor indicates that over the last year, RNRG has been loosely correlated with FUTY. These tickers have moved in lockstep 62% of the time. This A.I.-generated data suggests there is some statistical probability that if RNRG jumps, then FUTY could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To RNRG
1D Price
Change %
RNRG100%
-0.15%
FUTY - RNRG
62%
Loosely correlated
-0.40%
VPU - RNRG
62%
Loosely correlated
-0.44%
IDU - RNRG
61%
Loosely correlated
-0.64%
XLU - RNRG
60%
Loosely correlated
-0.42%
RSPU - RNRG
39%
Loosely correlated
-0.49%