Reddit is a leader in the social media space and it is in a niche market. Right now, it has a confluence of bullish upside setups, including a daily and weekly squeeze with substantial potential upside. Let’s look at the setup and targets.
The signal we have been tracking in the Nasdaq continues to build. As we approach the new year, where are the pockets of strength?
Christmas week started with the strong turn around at the end of the prior week, with the mega caps and indexes leading the way. Since the initial pop, there has been some participation drop off as volume has slowed due to traders starting to focus on time off.
As we approach the end of the year, the market is in a generally bullish stance. I doubt it’s going to go straight up, but this butterfly is something to consider into the first month of the new year.
