REDDIT INC-CL A (RDDT) Technical Analysis
NYSE:RDDT • US75734B1008
Current stock price
RDDT Technical Rating and Analysis
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.
- 70% of all other stocks performed better in the past year than RDDT.
- RDDT is currently trading in the lower part 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.
- In the last month RDDT has a been trading in the 119.27 - 153.78 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- RDDT has an average volume of 5808300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- RDDT is part of the Interactive Media & Services industry. There are 69 other stocks in this industry, RDDT did better than 69% of them.
RDDT Weekly and Daily overview Charts
RDDT Setup Rating and Analysis
The technical rating of RDDT is bad and it also does not present a 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.
More info and screens
RDDT Support and Resistance Analysis
120.62
We found 1 important support area.
- A support zone ranging from 121.84 to 121.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 139.54 to 140.97. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @229.62 from a trend line in the weekly time frame.
RDDT 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 | 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 | 30.78 | NEUTRAL | RDDT is not amongst the best or worst performers 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 | MIXED | The current price of RDDT is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 34.62 | NEUTRAL | The RSI value for RDDT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.15 | NEGATIVE | The MACD value suggests RDDT has a negative trend. |
| Stochastics (14,3) | 12.04 | OVERSOLD | The low Stochastics value suggests RDDT may be oversold. |
| Average True Range in percent/ATR (20) | 6.11 | HIGH VOLATILITY | The high ATR as a percentage value for RDDT suggests high volalility. |
| Average Directional Index/ADX (14) | 22.58 | NEUTRAL | The ADX value for RDDT suggests a possible start of a new trend. |
RDDT Chart- and CandleStick Pattern Analysis
RDDT Technicals: Chart, Performance Metrics, Trend & Indicators
124.13
+2.29 (+1.88%)
REDDIT INC-CL A / RDDT TA 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 34.6203. 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 121.84 and a resistance level at 139.54. Check the full technical report for our detailed analysis of RDDT support and resistance levels.