Renuen Corp. (RENU)

[microMonkey]

Actually jaime the basic chart on our RENU board would be sufficient in displaying where we're at. (At top right of our RENU board page, just click on "Show Intro Message").

You will note that after we broke out of the pendant pattern, a good initial breakout run took place, and the PPS has since backed off as normally expected for a time of consolidation. So the question is whether or not consolidation has completed? ..and in the case of legitimate plays (which RENU definitely is!), a new higher support level will be established and when new buying comes in again, a subsequent leg UP will resume.

A couple of great indicators are that a)consolidation with volume tapering down without breaking back down past the 50(MA) -- and indeed we've been seeing great support trading consistently above .003 and definitely establishing higher lows in perspective of historical chart, and b)IF we get 3 white soldiers (white candles) here it would be yet another bullish indication that consolidation has completed and we're ready to run again in the direction of the PPS reflecting the real & anticipated value of the company. Take a look at the candles on the chart - if we close above .0045 today, buyers new and old who have been waiting for some confirmation of Upward price action will recieve the needed bullish "sign" to jump in and join the party!