Redfin Stock Chart Target: Correction Begins

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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