#REN

REN is trying to break through the resistance wall of the flag pattern.

If we can break it, I will wait for a pullback to that resistance wall and if we can confirm it in support, there will be room for a bullish move and I will take the trade.

I won't take the trade before that because we might not break the resistance wall at all or there might be a fakeout, meaning that although the resistance wall of a patch (in this case the flag patch) is broken, but there is no confirmation in support and the price falls back into that patch.

I have marked what a fakeout looks like in the second picture.