Last week, RWE shares took a severe beating. Because the bad weather in the US led to a profit warning.
Thus, there was a sell-off of 20% in the meantime, starting from the high of 38.65 on January 8, 2021. Today’s closing price was 31.30. The profit warning is of course negative for the energy group, but some experts see a buying opportunity in the setback. The fact is that weather-related influences are unavoidable, especially in the field of renewable energies.
In view of RWE’s current development, the current level appears very interesting indeed. As a result of the Innogy deal, the group has risen to number 3 in Europe for renewable energies and even to number 2 worldwide for offshore wind.
From a technical perspective, the next strong support is at €30. The next major resistance is at €32.50
