In the Spotlight — RENN

The weakness in the market over the last few days has negated many setups that were looking promising coming into the week.  Renren (RENN) is one stock that has shown relative strength as it has held up remarkably well in a hostile environment.  It has formed a cup and handle over the last two months, and looks ready to challenge a key resistance level at $12.  If the market can stabilize here and bounce, RENN should offer a quick trade to this key level on any break of Thursday’s highs.

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Posted in Charting & Analysis, Charts, Stocks, Watchlist