Reddit 2-17 (scalping + forecast)
🔥 Market Overview (Reddit - RDDT)
Trend: Recent uptrend showing signs of exhaustion, possible correction in progress.
Key Levels:
Resistance: $211-$215 (Supertrend resistance zone)
Support: $194-$196 (EMA 200 and recent demand zone)
Indicators:
EMA 9: $201.96 (Price is below short-term EMA, signaling weakness)
EMA 200: $179.48 (Still long-term bullish)
Supertrend: Bearish reversal near $214.93
MACD: Bearish momentum increasing, with a crossover confirmation.
RSI: 36.92 – Approaching oversold territory, suggesting possible short-term bounce.
🔥 Scalping Strategy
🩸 Range Scalping (Preferred Strategy)
Buy near: $196-$198, targeting $205.
Sell near: $205-$210, targeting $196.
Stop-loss: Below $194 (EMA 200 break invalidates bullish case).
🩸 Breakout Scalping (If $211 Reclaims)
Buy above: $211, targeting $220+.
Stop-loss: Below $206 to limit risk.
🩸 Momentum Scalping (For Quick Trades)
Short near: $210-$212, targeting $200.
Buy near: $195-$196, targeting $205.
🔥 Mid-Term Trend Forecast (1-3 Weeks)
Bearish correction in progress, but the $194-$196 zone could act as a strong buy zone.
A break below $194 signals further downside to $180-$185.
If the price reclaims $211, expect another bullish leg targeting $220-$225.
🔥 News & Market Context
Recent strong rally may be exhausting, leading to short-term profit-taking.
No major fundamental catalysts supporting further immediate upside.
Market-wide sentiment could dictate whether support holds or breaks.
🔥 Decision:
🩸 Short-term: Scalp buy at $196, targeting $205.
🩸 Mid-term: Wait for price action confirmation at $194-$196.
🩸 Ideal Play: Short $210-$212, buy dip near $195-$196.
👑 Final Verdict:
Reddit stock faces correction after a strong rally, but buy zones exist around $196. Watch for a reclaim of $211 for further upside. Otherwise, expect a dip toward $194 or lower.
🔥 LucanInvestor's Quote:
"Not every pullback is a buying opportunity—timing is everything." 👑
Trend: Recent uptrend showing signs of exhaustion, possible correction in progress.
Key Levels:
Resistance: $211-$215 (Supertrend resistance zone)
Support: $194-$196 (EMA 200 and recent demand zone)
Indicators:
EMA 9: $201.96 (Price is below short-term EMA, signaling weakness)
EMA 200: $179.48 (Still long-term bullish)
Supertrend: Bearish reversal near $214.93
MACD: Bearish momentum increasing, with a crossover confirmation.
RSI: 36.92 – Approaching oversold territory, suggesting possible short-term bounce.
🔥 Scalping Strategy
🩸 Range Scalping (Preferred Strategy)
Buy near: $196-$198, targeting $205.
Sell near: $205-$210, targeting $196.
Stop-loss: Below $194 (EMA 200 break invalidates bullish case).
🩸 Breakout Scalping (If $211 Reclaims)
Buy above: $211, targeting $220+.
Stop-loss: Below $206 to limit risk.
🩸 Momentum Scalping (For Quick Trades)
Short near: $210-$212, targeting $200.
Buy near: $195-$196, targeting $205.
🔥 Mid-Term Trend Forecast (1-3 Weeks)
Bearish correction in progress, but the $194-$196 zone could act as a strong buy zone.
A break below $194 signals further downside to $180-$185.
If the price reclaims $211, expect another bullish leg targeting $220-$225.
🔥 News & Market Context
Recent strong rally may be exhausting, leading to short-term profit-taking.
No major fundamental catalysts supporting further immediate upside.
Market-wide sentiment could dictate whether support holds or breaks.
🔥 Decision:
🩸 Short-term: Scalp buy at $196, targeting $205.
🩸 Mid-term: Wait for price action confirmation at $194-$196.
🩸 Ideal Play: Short $210-$212, buy dip near $195-$196.
👑 Final Verdict:
Reddit stock faces correction after a strong rally, but buy zones exist around $196. Watch for a reclaim of $211 for further upside. Otherwise, expect a dip toward $194 or lower.
🔥 LucanInvestor's Quote:
"Not every pullback is a buying opportunity—timing is everything." 👑
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.
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.