REDDIT INC-CL A (RDDT) Stock Technical Analysis
USA - NYSE:RDDT - US75734B1008 - Common Stock
We assign a technical rating of 6 out of 10 to RDDT. 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.
Although the technical rating is only medium, RDDT does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price.
More info and screens
117.72
We found 3 important support areas.
- Support @194.57 from a horizontal line in the weekly time frame.
- Support @183.63 from a horizontal line in the daily time frame.
- Support @118.91 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- Resistance @214.21 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 219.25 to 220.84. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
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 | NEUTRAL | NEUTRAL | The short term trend for RDDT is neutral. |
| ChartMill Relative Strength | 84.77 | POSITIVE | RDDT has a high relative strength, it outperformed 84.77% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RDDT is above the rising 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) | 49.5 | NEUTRAL | The RSI value for RDDT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.11 | POSITIVE | The MACD value suggests RDDT has a positive trend. |
| Stochastics (14,3) | 30.61 | NEUTRAL | The Stochastics value for RDDT is a neutral value. |
| Average True Range in percent/ATR (20) | 6.74 | HIGH VOLATILITY | The high ATR as a percentage value for RDDT suggests high volalility. |
| Average Directional Index/ADX (14) | 21.47 | NEUTRAL | The ADX value for RDDT suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 214.22 | 194.56 | 19.66 (9.18%) | 10.90% |
| An entry @214.22. This is a Buy Stop order right above the resistance zone. | An exit @194.56. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 19.66 points, which is 9.18%. | For a 1.00% total portfolio risk, you can invest 10.90% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of RDDT. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
204.19
+9.61 (+4.94%)
REDDIT INC-CL A / RDDT FAQ
What is the ChartMill technical rating of REDDIT INC-CL A (RDDT) stock?
ChartMill assigns a technical rating of 6 / 10 to RDDT.
What is the current trend direction of REDDIT INC-CL A (RDDT) stock?
The current trend direction for REDDIT INC-CL A (RDDT) is Bullish.
What is the RSI signal for REDDIT INC-CL A (RDDT) stock?
REDDIT INC-CL A (RDDT) has an RSI value of 49.4965. This indicates that the stock is currently neutral.
What is the short term momentum for REDDIT INC-CL A (RDDT) stock?
The short term momentum for REDDIT INC-CL A (RDDT) is neutral.
What is the support and resistance level for RDDT stock?
REDDIT INC-CL A (RDDT) has a support level at 194.57 and a resistance level at 214.21. Check the full technical report for our detailed analysis of RDDT support and resistance levels.