Redfin Corp Forecast and Stock Analysis
Technical RDFN stock analysis for March 19, 2019.
Redfin Corp gained 3.25% in the last trading day, rising from $18.45 to $19.05 The price has fallen in 7 of the last 10 days and is down by -6.71% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.62 million more shares were traded than the day before. In total, 1.31 million shares bought and sold for approximately $24.90 million.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the RDFN stock was $19.05. This is 3.25% more than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 3.65% from a day low at $18.65 to a day high of $19.33.
30 day high of the RDFN stock price was $20.74 and low was $18.26.
90 day high was $20.74 and low was $13.57.
52 week high for the Redfin Corp - $26.01 and low - $13.50.
Redfin Corp lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $18.54 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.47% during the next 3 months and, with 90% probability hold a price between $24.56 and $29.36 at the end of this period.
Only positive signals in the chart today. Redfin Corp holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $18.83 and $18.83. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday March 18, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 42 and the stock is currently not being overbought or oversold
Support & Resistance
Redfin Corp finds support from accumulated volume at $18.65.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.68 (3.65%) between high and low. For the last week, the stock has had a daily average volatility of 3.36%.
Our recommended stoploss: $18.04 (-5.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
Very Low Low Medium High Very High
Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Buy Candidate.