ReNew Energy Global PLC (RNW)'s Technical Outlook is Bright After Key Golden Cross

Core Viewpoint - ReNew Energy Global PLC (RNW) is showing potential for a bullish breakout due to a recent "golden cross" in its moving averages, indicating a positive trend reversal [1]. Technical Analysis - RNW's 50-day simple moving average has crossed above its 200-day simple moving average, a pattern known as a "golden cross," which is a significant bullish indicator [1]. - The golden cross event consists of three stages: a price bottom, the shorter moving average crossing above the longer one, and the maintenance of upward momentum [1]. - RNW's shares have increased by 26.4% over the past four weeks, suggesting strong upward movement [2]. Earnings Expectations - There have been two upward revisions in RNW's earnings expectations over the past 60 days, with no downward changes, indicating positive sentiment among analysts [3]. - The Zacks Consensus Estimate for RNW has also moved up, further supporting the bullish outlook [3]. Investment Consideration - Given the technical indicators and positive earnings revisions, RNW is recommended for investors to consider adding to their watchlist [3].