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Renren Inc (RENN): Price Now Near $27.65; Daily Chart Shows An Uptrend on 50 Day Basis

Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The post Renren Inc (RENN): Price Now Near $27.65; Daily Chart Shows An Uptrend on 50 Day Basis appeared first on ETF Daily News. ...

The Hourly View for RENN

At the time of this writing, RENN (Get Ratings)’s price is up $0.05 (0.18%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as RENN has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Out of Business Services stocks, RENN ranks 152nd in regards to today’s price percentage change.

RENN’s Technical Outlook on the Daily Chart

At the moment, RENN’s price is up $0.06 (0.22%) from the day prior. RENN has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Renren Inc’s price action over the past 90 days can be seen via the chart below.

RENN

<RENN's volume of shares traded is 1897; this is 96.91% lower than that of its 7 day average.

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RENN: Daily RSI Analysis

  • RENN’s RSI now stands at 44.8276.
  • RENN and RSI may be exhibiting divergent trends. This may be something to monitor.

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The post Renren Inc (RENN): Price Now Near $27.65; Daily Chart Shows An Uptrend on 50 Day Basis appeared first on ETF Daily News.

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