Could The biggest Underperformer Render (RNDR), Be An Ace Pick?

12 ביולי

RNDR, the leading facilitator of decentralized rendering solutions, has been pinned number 1 on the underperformer's list due to the higher market sentiment defiance. With the bearish sentiment, it produced a weekly loss of nearly 7.4% and topped the list.

The picture shows the flip possibility, apart from the breakdown of the symmetrical triangle, looking at its chart, as the breakdown could end near the $5 exclusive support. The $5 could act as significant support, as it could probably act as a support turned from resistance.
So it looks like it can ace from the list and turn from underperformer to outperformer, but it has a cache that totally depends on the buyer's will and interest.

At press, it trades near $5.827 and looks like it's getting pushed downwards from the dynamic EMA bands of 50-day and 200-day EMA. Meanwhile, the MACD supports further bearishness, and RSI is inching towards a further oversold vicinity.

Overall, the graphs present a view of continuous bearishness for a while and an opportunity that could pop out from $5 support (DYOR).