Pullback Buy in RDFN

NASDAQ:RDFN   Redfin Corporation
RDFN is a stock we bought in my Alpha Stocks service on June 27 when it broke out above resistance at 11.50.

It rallied 50% over the next three weeks but has now pulled back to a level where I would consider adding to or taking a new position.

Redfin is a powerful stock, but it also has a history of 15-20% pullbacks throughout its up moves. As of Friday morning, the stock is 20% off its high with support at the 21-day exponential moving average which has contained this surge thus far.

Traders may consider buying here with a stop loss near $13.


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