Renk has successfully reached and activated our Fibonacci retracement zone, which we outlined on May 12, 2026.
In addition, we have established a count for Renk, as we expect the market to be in an extending corrective phase. Based on this, we have defined a Fibonacci selling zone (marked in red) and a second Fibonacci retracement buying zone (marked in green).
Short Entry Levels:
- 50% at $65.36
- 61.8% at $71.26
- 78.6% at $79.66
Stop Loss: 1% above the zone at $80.42
Once the currently activated Fibonacci retracement buying zone is validated and deactivated, we expect the market to reach our selling zone and initiate a significant sell-off from there — pushing into our final Fibonacci retracement zone, where the entire correction should come to an end.
Long Entry Levels:
- 78.6% at $32.70
- 88.7% at $25.29
Stop Loss: 1% below the zone at 25.05$
This final zone represents a long-term buying opportunity at very attractive prices for this stock.
Should anything change, we will update you immediately.
Kind regards,
Monalytics
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