Investor Trade Signal On RedFin Corp (RDFN)

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Dec 22, 2020 at 6:40 PM EST

There is a key time count hitting next week and the stock is putting in a potential topping tail today.

Shares of Redfin Corp (RDFN) have soared in recently. In the last 23 trading days, the stock has gained a full 100% as of the highs today. Having said that, the party may be over. The reason? There is a key time count hitting next week and the stock is putting in a potential topping tail today. Topping tails are bearish reversal signals that tell investors there is institutional distribution occurring.

If this turns out to be a topping tail, the stock has significant downside to the longer-term trend of $67.00 from its current $80+. That target would likely be achieved in the next two weeks.

(Click on image to enlarge)

Disclaimer:

All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.