The chart above shows how
RNEW4.SA declined after the
SELL signal which was issued on 22/12/2020. Since then, the stock price edged down by a hefty 35.38%. The bearish sentiment may be over now. Our system detected a
BULLISH HAMMER pattern which may be a sign of a market mood switching from bearish to bullish. This pattern deserves utmost attention because
BUY orders must be placed immediately in case of a confirmation. The
BULLISH HAMMER pattern, if confirmed, indicates an upside potential of -2.82%. The massive pullback may be over, but patience is required at this point! Do not forget that confirmation is the prerequisite for any further move!