*downtrend line < I said uptrend line near end of video for a downtrend line, so don't get confused...plus an accidental video appearance lol
RDDT! going sideways since the end of last month, and still below major moving averages. In some ways I still think this is going to chop. Doesn't mean you can't trade on the smaller chart timeframes but we need to see a direction chosen not just on this stock but also the broader market.
A few things to ask/note:
Reminders for my swing traders
Anyone else trade RDDT?
RDDT! going sideways since the end of last month, and still below major moving averages. In some ways I still think this is going to chop. Doesn't mean you can't trade on the smaller chart timeframes but we need to see a direction chosen not just on this stock but also the broader market.
A few things to ask/note:
- Where are we in the range?
- Is the market (SPX/QQQ) also showing weakness, or is it holding up?
- Is this gap on volume or just noise? If volume is light, it could be a fake-out.
- Is there a reason for the gap down? if it does so this morning
Reminders for my swing traders
- No entries before 11am (or your specific time to let noise die down)
- Let the first hour play out to see if it’s a trap gap or real momentum.
- Watch for retest of premarket low to give more directional clarity.
Anyone else trade RDDT?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.