REDDIT $RDDT - Apr. 3rd, 2024REDDIT NYSE:RDDT - Apr. 3rd, 2024
BUY/LONG ZONE (GREEN): $50.50 - $56.75
DO NOT TRADE/DNT ZONE (WHITE): $46.00 - $50.50
SELL/SHORT ZONE (RED): $40.00 - $46.00
Not enough data to list 4H, Daily, or Weekly trend directions.
ATH: 74.90
ATL: 44.00
Wanted to chart up NYSE:RDDT after the IPO and radical price movement. There is not enough data to show any form of trend direction on my usual timeframes, so I dropped to the 1H. Because of the lack of historical data, I was using the all-time high and all-time low prices for level references. The bearish target is $40.00, roughly 10% below the all-time low, as price is closely trading in that area at this time. The bullish zone is purposely around the same size as the bearish zone, but can be extended to around the $63.50 level.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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