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Renren Inc. American Depositary Shares each representing fifteen Class A (RENN)

RENN stock forecast: buy or sell

Close on Sep 25th, 2020
$3.67 0.08%
3 months performance
-0.01%
Published: September 28th, 2020 - 00:04

RENN stock outlook

  • Renren Inc. American Depositary Shares e closed last Friday at $3.67 (8.26%) prior to presenting earnings at
  • Renren Inc. sells used automobiles and related products in the People's Republic of China.

Important:
The comments given in this article are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this text does not have an understanding of the particular scenarios of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for general educational purposes only

RENN stock charts

Should I buy Renren Inc. American Depositary Shares e stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is RENN stock a buy?

Currently, Renren Inc. American Depositary Shares e stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for RENN in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell Renren Inc. American Depositary Shares e stock?

Do you know when is it time to sell Renren Inc. American Depositary Shares e?. Trading strategies prevent us from making impulsive decisions based on our personal sentiments or the noise that surrounds the market. When selling, as well as buying, detailed setups are very simple to follow but are only valid for selling stocks you already own, not for shorting RENN stock

A golden rule is that you must never hold a trading operation that produces losses greater than those expected upon purchase. The moment to sell shares must always be dictated by the stop-loss (automatic or manual)

Is it time to sell Renren Inc. American Depositary Shares e stock?

In the current situation of Renren Inc. American Depositary Shares e there is not any eligible sell setup, so Renren Inc. American Depositary Shares e stock holders with operations in profit can keep their positions

Analysts' recommendations to buy or sell Renren Inc. American Depositary Shares e stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

We don't have any rating posted in the previous 30 days for Renren Inc. American Depositary Shares e

Technical analysis

SMAs overview

Moving averages are simple indicators for traders to measure market momentum. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

RENN SMAs chart

Supports and resistances

Technical analysts use supports and resistances to spot price points in the stock price action that tend to work as barriers, containing the price of shares to move up or down. A support level is a level where the price may find support as it falls. This means that the price is more likely to "bounce off" this level rather than break through it. Nevertheless, if the price breaks down this level, it is likely to continue falling until meeting another support level. On the other hand, a resistance level is where the price may find resistance as it moves up. Again, the price is more likely to "rebound" at this level, and if it finally breaches this level, the price will rally easily until it approaches the next resistance

The current resistances are:

  • R1: $3.78 (3% above)
  • R2: $3.81 (3.81% above)
  • R3: $3.96 (7.9% above)
  • The current support levels are:

  • S1: $3.53 (-3.81% below)
  • S2: $3.49 (-4.9% below)
  • S3: $3.42 (-6.81% below)
  • Bollinger bands

    This is an indicator that was created in the 1980s by John Bollinger. It is composed of 3 lines that are outlined superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    Since the price surpassed the upper band last Wednesday, the price has been corrected downwards by 18.08%

    RENN RSI chart

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of stock markets. It is intended to map the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period. Oscillator indicators, such as relative strength, are designed to indicate values in the range of 0-100. The relative strength indicator is one of the best known and most widely used indicators, and it was invented by J. Welles Wilder in the late 1970s

    The RSI dropped below the overbought level of 70 last Thursday after just crossing to the overbough zone for just one day (weak signal). The RSI value last Friday was 67.62

    RENN RSI chart

    Earnings and financials

    Renren Inc. American Depositary Shares each representing fifteen Class A (RENN) posted EPS for the fiscal 2nd-quarter that met Market expectations. Quarterly EPS was $0.00 per share from an estimated $0.00. The company reported turnover for Q2 was $0.00 consistent with the market estimates as well.

    This compares to earnings of $0.00 per share a year ago, so reported EPS is -. Turnover collapsed a -36.8% on an annualized basis in the second-quarter, from $106.5M to $67.3M last quarter.

    RENN is presenting earnings report. If you hold or you are thinking of buying RENN stock, you must be careful as financial reporting day usually has a higher than usual volatility, and price can jump up or down with unsually low liquidity and not honouring your buy or stop-loss orders. It's always good to review company's website to confirm time and details on the earnings call and the earnings report.

    RENN revenues and profits chart