REDDIT INC-CL A (RDDT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:RDDT - US75734B1008 - Common Stock
Taking everything into account, RDDT scores 6 out of 10 in our technical rating. RDDT has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
RDDT has an average technical rating and it also does not offer a high quality setup 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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120.69
3 important support areas can be observed.
- A support zone ranging from 206.44 to 207.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 183.64 to 185.94. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @121.91 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 223.41 to 223.41. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The short term trend for RDDT is up. |
| ChartMill Relative Strength | 82.43 | POSITIVE | RDDT has a high relative strength, it outperformed 82.43% 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 | MIXED | The current price of RDDT is above 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) | 59.7 | NEUTRAL | The RSI value for RDDT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 4.19 | POSITIVE | The MACD value suggests RDDT has a positive trend. |
| Stochastics (14,3) | 85.33 | OVERBOUGHT | The high Stochastics value suggests RDDT may be overbought. |
| Average True Range in percent/ATR (20) | 6.22 | HIGH VOLATILITY | The high ATR as a percentage value for RDDT suggests high volalility. |
| Average Directional Index/ADX (14) | 19.31 | NEGATIVE | The low ADX value for RDDT suggests a weak or negative trend. |
223.4
+6.93 (+3.2%)
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 Bearish.
What is the RSI signal for REDDIT INC-CL A (RDDT) stock?
REDDIT INC-CL A (RDDT) has an RSI value of 59.7034. 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 positive.
What is the support and resistance level for RDDT stock?
REDDIT INC-CL A (RDDT) has a support level at 207.55 and a resistance level at 223.41. Check the full technical report for our detailed analysis of RDDT support and resistance levels.