RDBX Bottom reversalwe tested our resistant level yesterday around the 5.15$, and we got rejected, now we have critical level to hold , which is above 3.70$+, cause if we broke it, we going to have huge short volume to drags us until the bottom price level for RDBX, which is above our ascending line above the 3$+.
still the 5.15$ is squeeze level target, if we hold it , and make it our support to test the 9$+.
Redboxentertainment
$RDBX Squeeze target we getting near an important resistant around the 5.12$ we might see huge rejection and price going below to find support above the 3.85$.
if we broke it and hold above that resistant we will confirm the squeeze and price momentum shift to the next target around the 9$.
RDBX $ Target Level'swe entrained a consolidation mode the moment we met with our RS level around the 13.50$, and holding above the current support above 9$+, which show us that there's a balance between the selling pressure from above and buying pressure from below, we will confirm the strength of either side by over coming the resistant above 13.50$, which show us the potential squeeze at 18.00$, and going to the 25$ price target , other wise we will see a sell of the moment we break the 9$ SP, and going to the 5$+ SP, and confirm the short control .
NASDAQ:RDBX
RDBX Redbox Entertainment the next GME GameStop ??I see the recent rally of RDBX, which is a self-service rent or purchase new-release DVDs and Blu-ray Discs, as a return to the meme stocks.
RDBX went from $2 to $11 in just 10 days.
If we consider only the technicals, then the stock should reverse from the Fibonacci 0.618 level, which is $6.36 to $12.70.
I`m not in this trade though, the valuation is too high for me, 300Mil. GME was way cheaper when the short squeeze started.
Looking forward to read your opinion about RDBX.
