RDDT Technical Analysis - REDDIT INC-CL A

Technical Rating and Analysis

Taking everything into account, RDDT scores 5 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

In the last month RDDT has a been trading in the 189.02 - 262.99 range, which is quite wide. It is currently trading near the lows of this range.

When comparing the yearly performance of all stocks, we notice that RDDT is one of the better performing stocks in the market, outperforming 95% of all stocks.

RDDT is one of the better performing stocks in the Interactive Media & Services industry, it outperforms 92% of 70 stocks in the same industry.

RDDT has an average volume of 5826130 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.

RDDT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so RDDT is lagging the market.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

REDDIT INC-CL A / RDDT Weekly stock chart

REDDIT INC-CL A / RDDT Daily stock chart

Setup Rating and Analysis

RDDT has an average technical rating and also the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

113.76

213.83

When analyzing the support we can see 2 important areas.

A support zone ranging from 194.94 to 194.94. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @114.91 from a trend line in the weekly time frame.

When analyzing the resistance we notice one important area.

Resistance @211.71 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for RDDT is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for RDDT is down.
ChartMill Relative Strength	95.68	POSITIVE	RDDT has a high relative strength, it outperformed 95.68% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of RDDT is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of RDDT is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of RDDT is above the rising SMA(200).
Relative Strength Index/RSI (14)	37.52	NEUTRAL	The RSI value for RDDT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-2.27	NEGATIVE	The MACD value suggests RDDT has a negative trend, although the MACD value is rising.
Stochastics (14,3)	10.38	OVERSOLD	The low Stochastics value suggests RDDT may be oversold.
Average True Range in percent/ATR (20)	6.24	HIGH VOLATILITY	The high ATR as a percentage value for RDDT suggests high volalility.
Average Directional Index/ADX (14)	30.11	POSITIVE	The high ADX value value for RDDT suggests a strong trend.