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RDDT - Bearish thesis based on double top on 4hr frame
RDDT on high watch for me this week as we are testing 20d SMA, a double top, and multiple long (green trendline) and mid-term (blue trendline) trendline supports between 164 & 162.5. Bearish in RDDT below 170 and have short term target of 155.5 & 151.5 if we get a high volume trend break. RDDT has also exhibited weakness within broader megaphone trend as we've failed to touch trendline resistance on recent highs signaling weaker presence of buyers and giving us the double top intra-trend setup.
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