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RNRG
ETF ticker: NASDAQ
AS OF
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Net Assets
52.81M

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

Category Utilities
Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
a Summary for RNRG with price predictions
08:00 PM EDT Sep 26, 2023

RNRG's Indicator enters downward trend

The Aroon Indicator for RNRG entered a downward trend on September 27, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 190 similar instances where the Aroon Indicator formed such a pattern. In of the 190 cases the stock moved lower. 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 September 21, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on RNRG as a result. In of 68 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 Moving Average Convergence Divergence Histogram (MACD) for RNRG turned negative on September 25, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 41 similar instances when the indicator turned negative. In of the 41 cases the stock turned lower in the days that followed. This puts the odds of success at .

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 .

Bullish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, 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 3 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 305 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.

Fundamental Analysis (Ratings)

Fear & Greed
A.I.Advisor
published Highlights

Industry description

The investment seeks to track, before fees and expenses, the price and yield performance of the Indxx Renewable Energy Producers Index. The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index is designed to provide exposure to publicly traded companies that produce energy from renewable sources including wind, solar, hydroelectric, geothermal, and biofuels (including publicly traded companies that are formed to own operating assets that produce defined cash flows. The fund is non-diversified.

Market Cap

The average market capitalization across the Global X Renewable Energy Producers ETF ETF is 1.93B. The market cap for tickers in the group ranges from 514.95M to 11.53B. VER holds the highest valuation in this group at 11.53B. The lowest valued company is EVA at 514.95M.

High and low price notable news

The average weekly price growth across all stocks in the Global X Renewable Energy Producers ETF ETF was -7%. For the same ETF, the average monthly price growth was -10%, and the average quarterly price growth was -18%. EVA experienced the highest price growth at 7%, while NEP experienced the biggest fall at -23%.

Volume

The average weekly volume growth across all stocks in the Global X Renewable Energy Producers ETF ETF was 48%. For the same stocks of the ETF, the average monthly volume growth was 61% and the average quarterly volume growth was -13%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 75
Price Growth Rating: 76
SMR Rating: 84
Profit Risk Rating: 89
Seasonality Score: -23 (-100 ... +100)
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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

Correlation & Price change

A.I.dvisor indicates that over the last year, RNRG has been closely correlated with UTG. These tickers have moved in lockstep 69% of the time. This A.I.-generated data suggests there is a high statistical probability that if RNRG jumps, then UTG could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To RNRG
1D Price
Change %
RNRG100%
-2.52%
UTG - RNRG
69%
Closely correlated
-1.28%
VPU - RNRG
64%
Loosely correlated
-1.91%
FUTY - RNRG
63%
Loosely correlated
-1.85%
XLU - RNRG
62%
Loosely correlated
-1.92%
DNP - RNRG
47%
Loosely correlated
-0.20%