Reddit (RDDT) has plunged 54.40% in under 40 days, with the price now testing key technical levels. While the broader market is red today, this setup might offer a unique entry opportunity — whether to lower your average or build a long-term position.
Technicals are signaling early signs of reversal, supported by an uptick in momentum indicators.
🔍 Technical Highlights:
✅ Sharp bounce from recent lows (~$106)
✅ MACD bullish cross forming — momentum flipping
✅ RSI climbing from oversold territory
✅ First bullish daily Heikin Ashi candles post-selloff
✅ Price attempting to reclaim the 9 EMA
✅ Defined risk with tight stop just below recent support
📈 Trade Setup:
🟢 Entry Zone: $119-121 (current range)
🔴 Stop Loss: Below $104 (under recent swing low)
✅ TP1: $139 – psychological level & short-term resistance
✅ TP2: $166 – key breakdown zone
✅ TP3: $221 – Below the All Time High & major resistance
📊 Fundamental Tailwinds:
🔹 User Growth: Daily Active Users up 39% YoY to 101.7M
🔹 Ad Revenue Boom: +60% YoY in Q4, reaching $395M
🔹 Analyst Consensus: 20 analysts → 12 Buy, 6 Hold, 2 Sell
🔹 Average Price Target: $195.37 (➕ +56.37% Upside from current levels)
🔹 Strategic Moves: Partnership with Intercontinental Exchange for monetizing data
🔹 IPO Buzz & Momentum: Despite short-term weakness, Reddit remains one of the most followed and speculated post-IPO names
📌 Personally, I’m looking at this from a long-term perspective, but for those trading with leverage, the technical setup allows for tight risk management and structured take-profit levels.
Volatility creates opportunity — this might be one of them. Let’s see how it plays out. 💼🚀
Technicals are signaling early signs of reversal, supported by an uptick in momentum indicators.
🔍 Technical Highlights:
✅ Sharp bounce from recent lows (~$106)
✅ MACD bullish cross forming — momentum flipping
✅ RSI climbing from oversold territory
✅ First bullish daily Heikin Ashi candles post-selloff
✅ Price attempting to reclaim the 9 EMA
✅ Defined risk with tight stop just below recent support
📈 Trade Setup:
🟢 Entry Zone: $119-121 (current range)
🔴 Stop Loss: Below $104 (under recent swing low)
✅ TP1: $139 – psychological level & short-term resistance
✅ TP2: $166 – key breakdown zone
✅ TP3: $221 – Below the All Time High & major resistance
📊 Fundamental Tailwinds:
🔹 User Growth: Daily Active Users up 39% YoY to 101.7M
🔹 Ad Revenue Boom: +60% YoY in Q4, reaching $395M
🔹 Analyst Consensus: 20 analysts → 12 Buy, 6 Hold, 2 Sell
🔹 Average Price Target: $195.37 (➕ +56.37% Upside from current levels)
🔹 Strategic Moves: Partnership with Intercontinental Exchange for monetizing data
🔹 IPO Buzz & Momentum: Despite short-term weakness, Reddit remains one of the most followed and speculated post-IPO names
📌 Personally, I’m looking at this from a long-term perspective, but for those trading with leverage, the technical setup allows for tight risk management and structured take-profit levels.
Volatility creates opportunity — this might be one of them. Let’s see how it plays out. 💼🚀
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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.
Seizing Opportunities, Maximizing Returns. With 7+ years of experience, we provide accurate insights and trading signals.
💹 Free daily signals & analysis
💹 Expert strategies & updates
Join now: t.me/valchevfinance
💹 Free daily signals & analysis
💹 Expert strategies & updates
Join now: t.me/valchevfinance
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.