REDDIT INC-CL A (RDDT) Technical Analysis
NYSE:RDDT • US75734B1008
Taking everything into account, RDDT scores 0 out of 10 in our technical rating. RDDT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, RDDT is a bad performer in the overall market: 82% of all stocks are doing better.
- RDDT has an average volume of 5374180 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- RDDT is an average performer in the Interactive Media & Services industry, it outperforms 61% of 69 stocks in the same industry.
- 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.
- In the last month RDDT has a been trading in the 127.70 - 164.40 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
RDDT has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 146.77, a Stop Loss order could be placed below this zone.
More info and screens
133.56
3 important support areas can be observed.
- A support zone ranging from 143.17 to 146.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @139.64 from a horizontal line in the weekly time frame.
- Support @134.91 from a trend line in the weekly time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 150.18 to 151.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @234.60 from a trend line in the weekly time frame.
- Resistance @253.92 from a trend line 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 | DOWN | NEGATIVE | The long term trend for RDDT is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for RDDT is down. |
| ChartMill Relative Strength | 18.83 | NEGATIVE | RDDT has a low relative strength, it was outperformed by 81.17% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of RDDT is above 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 | MIXED | The current price of RDDT is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 39.59 | NEUTRAL | The RSI value for RDDT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 3.35 | POSITIVE | The MACD value suggests RDDT has a positive trend. |
| Stochastics (14,3) | 66.21 | NEUTRAL | The Stochastics value for RDDT is a neutral value. |
| Average True Range in percent/ATR (20) | 7.03 | HIGH VOLATILITY | The high ATR as a percentage value for RDDT suggests high volalility. |
| Average Directional Index/ADX (14) | 34.55 | POSITIVE | The high ADX value value for RDDT suggests a strong trend. |
RDDT Technicals: Chart, Performance Metrics, Trend & Indicators
147.29
+1.6 (+1.1%)
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 0 / 10 to RDDT.
Can you provide the trend direction for REDDIT INC-CL A?
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 39.5938. 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 negative.
What are the support and resistance levels for REDDIT INC-CL A (RDDT) stock?
REDDIT INC-CL A (RDDT) has a support level at 146.77 and a resistance level at 150.18. Check the full technical report for our detailed analysis of RDDT support and resistance levels.