Sell Signal for Reddit Amid Technical Breakdown

25 days ago

Ed Carson

"Reddit. Tough day for Reddit. Had that nice earnings report that saw the stock gap up close to the 200 level. Looked like it might come down and test the 50-day moving average. ... But by this time, decisive break of the 50-day line, pretty clear-cut sell signal here. ... Signs that some big investors have been selling shares recently."

The analyst describes Reddit as experiencing a clear technical breakdown, notably a decisive break of the 50-day moving average combined with heavy volume selling. While acknowledging the company's strong fundamentals and revenue growth, the technicals suggest a sell signal, advising investors to consider scaling out of positions.

Related Stocks