Renren.

Company Overview.

Renren Inc. (NYSE: RENN) owns and operates several U.S.-based SaaS businesses. RenRen has operations, including Software R&D, in the United States, China, and the Philippines. Through our businesses, we aspire to simplify and remove businesses’ day-to-day challenges through automation, the Power of SAAS, and by becoming integral to the business communities we serve.

Is RENN a good pick?

In the first half of 2021, RENN reported the following results compared to the same date last year, the mentioned a 91% increase in sales, a 19% reduction in operating expenses, Gross margin of 84%, and a 28% increase in marketing expenses.

In addition to all this, we point out the legal problems that the company is currently facing in NY court, where CEO Joseph Chen and some directors of the company were accused by some shareholders of RENN, where they point them of information trafficking and breach of their fiduciary duties.

Technical Analysis.

From August to December, the share increased 200 %, but the last 9 December by legal problems, RENN fell and lost 62% of its value and touched the $9.62, after almost a month the stock get again an 80% of its value and go ahead with force.

The RSI indicator since the fall on 9 December has increased and is near the zone of overbuying, MACD has crossed his signal the last week of December and continually goes up, it's probably the break his cero zone by the force of the movement bullish. The 0.382 resistors of Fibonacci will become the new resistor for the price and with these levels, according to our indicators, it is probable that the price will earn at least 13% when it is near to his new resistor.