RENAULTLong
Renault Accelerates Towards the Electric Future From Shanghai!
Renault (Ticker AT:RNO.FR) is taking a decisive step in the electric vehicle revolution by hiring 200 specialized hardware and software engineers in Shanghai, the epicenter of global technological innovation. Although it does not market vehicles in China, Renault is taking advantage of this strategic move to develop an affordable electric Twingo, with the intention of leading the transition to sustainable and affordable mobility.
This news has been enthusiastically received by the markets since the European opening. Currently, the share is moving away from its recent low of €38.35 and is trading around €39.50, very close to the checkpoint (POC). In addition, the 50 moving average seems to be heading towards crossing the 100 moving average, which could signal an upward trend reversal. The relative strength index (RSI) is at 51.60%, indicating a possible strengthening in price. It would not be surprising to see the share price recover towards €42 in the short term.
With the backing of Chinese technological talent and its focus on innovation, Renault reaffirms its commitment to an electric and promising future in the competitive automotive market. The direction is clear and the upward path seems inevitable!
Ion Jauregui – ActivTrades Analyst
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