Reddit (RDDT) Stock Analysis: Strong Uptrend with Potential Pullback Ahead
The stock closed the week at $225.23, up 12.83%. It gained 4.03% on Friday.
The price is above the 50, 100, and 200-day EMAs, indicating a short-term bullish bias. The 50, 100, and 200-day EMAs are at $169.5, $144.1, and $101.8, respectively. The daily RSI is at 75, and the MACD is bullish.
The immediate support level for the stock is around $180.3. The stock is in strong upside momentum, and a pullback is expected. It recently touched the 4.23 Fibonacci extension level, suggesting a potential retracement.
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