Short

$RDDT The Bears are Marching In

like many other well met IPO's will eventually fall below its lowest price for a much needed liquidity hunt to shake out weak hands.

The bears are attacking this stock and many others right now. Here we have a classic bearish double top forming. We make spike a new high just above 80 or stop just below current highs, but the bear are marching in and this stock will get rejected hard.

First stop will be 40.53$ when this breaks you will want to start accumulating stock around the 17.32$ level.

As with all great accumulations it will be an assumed 5 years hold once we get to target.

Expect poor earnings reports and forecasts to be a major catalyst.

Midgar-

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.