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TOPIC: RENE for the risk lovers

RENE for the risk lovers 17 Jan 2013 20:11 #1

  • Jackozy
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Intersting one this. I'm a bit gutted I missed the rise from 1.75p as I've followed this company for nearly 4 years on and off. Here's a series of charts starting with the weekly:

RENEweekly17_01_13.gif


It's hit the downtrend perfectly today on a 50% rise from 2p but look at that long term RSI support - that should have been a clue. Here's a closer view on a daily chart:

RENEdailyRSI17_01_13.gif


dl.dropbox.com/u/20815047/RENEdailyRSI17_01_13.gif

A great big bullish divergence at an all time price low and look how the RSI downtrend matched the price downtrend too. Finally, a still closer view:

RENEdaily17_01_13.gif


dl.dropbox.com/u/20815047/RENEdaily17_01_13.gif

This is super high risk but worth keeping an eye on as returns could be huge. I have been in and out of this before (both of the last 2 spikes to 11p where I failed to sell on both occasions lol) and I know the company well. Fundy minded folk might be interested in what they do and their long term potential.
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