REDDIT INC-CL A (RDDT) Stock Technical Analysis
NYSE:RDDT - New York Stock Exchange, Inc. - US75734B1008 - Common Stock - Currency: USD
Taking everything into account, RDDT scores 6 out of 10 in our technical rating. In the past year, RDDT was one of the better performing stocks in the market. The medium term picture became unclear, although we see some improvement happening in recent action.
RDDT is part of the Interactive Media & Services industry. There are 71 other stocks in this industry. RDDT outperforms 92% of them.
In the last month RDDT has a been trading in the 94.89 - 121.98 range, which is quite wide. It is currently trading near the high of this range.
RDDT has an average volume of 8329860 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long and short term trends are both neutral. This gives a pretty neutral overall picture!
Looking at the yearly performance, RDDT did better than 93% of all other stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
RDDT is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so RDDT is lagging the market slightly.
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. There is a support zone below the current price at 117.96, a Stop Loss order could be placed below this zone.
More info and screens
93.21
126.68
We found 4 important support areas.
- A support zone ranging from 115.03 to 117.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 100.32 to 100.76. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 96.91 to 96.93. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @94.15 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @121.29 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 125.32 to 125.43. This zone is formed by a combination of multiple trend lines 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 | NEUTRAL | NEUTRAL | The long term trend for RDDT is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for RDDT is neutral. |
| ChartMill Relative Strength | 93.42 | POSITIVE | RDDT has a high relative strength, it outperformed 93.42% 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) | UP | POSITIVE | The current price of RDDT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of RDDT is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.66 | NEUTRAL | The RSI value for RDDT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.93 | POSITIVE | The MACD value suggests RDDT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78.59 | NEUTRAL | The Stochastics value for RDDT is a neutral value. |
| Average True Range in percent/ATR (20) | 5.56 | HIGH VOLATILITY | The high ATR as a percentage value for RDDT suggests high volalility. |
| Average Directional Index/ADX (14) | 17.59 | NEGATIVE | The low ADX value for RDDT suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 121.30 | 115.02 | 6.28 (5.18%) | 19.32% |
| An entry @121.30. This is a Buy Stop order right above the resistance zone. | An exit @115.02. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 6.28 points, which is 5.18%. | For a 1.00% total portfolio risk, you can invest 19.32% 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.
118.18
+1.98 (+1.7%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorCommunication Services
GICS IndustryInteractive Media & Services
Performance
% Chg1.7%
1 Week-2.56%
2 Weeks5.19%
1 Month4.04%
3 Month-7.82%
6 Month-31.55%
12 Month93.93%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)6.44
ATR(20)%5.56%
ATR Inc23.27%
Range Today8
ADR(20)6.17
ADR(20)%5.22%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.42
Mansfield0.1
10 Day High121.98
10 Day Low109.16
20 Day High121.98
20 Day Low94.89
52 Week High230.41
52 Week Low49.13
CS1 End117.96
CR1 Start121.29
Volume & EV
DER(3)0.6%
DER(5)0.13%
Volume6.51M
Volume Incr-34.42%
Vol(5)5.72M
Vol(50)8.33M