Redfin Stock Chart Target: Correction Begins

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Dec 28, 2020 at 4:13 PM EST

Shares of Redfin Corp fell sharply on Monday as the stock finally looks to be correcting from its meteoric move upward.

Shares of Redfin Corp (RDFN) fell sharply on Monday as the stock finally looks to be correcting from its meteoric move upward. Just last week, Redfin hit a 52 week high of $83.71. This completed 16 up-days in and an almost vertical move from below $40.00/share. Redfin stock chart target for this downside correction is $67.75. Essentially this would be a retrace to the longer-term trend of the stock. Technical investors and traders should expect a quick, solid bounce off that chart level. After, Redfin likely has more downside to $55.00.

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