Monday, December 28, 2020 4:13 PM EST
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.
(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 ...
more
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.
less
How did you like this article? Let us know so we can better customize your reading experience.
Users' ratings are only visible to themselves.
