Reddit Stock Slips After Disappointing User Growth—Watch These Price Levels
Key Takeaways
- Reddit shares were lower in early trading Thursday after the social discussion platform’s underwhelming user numbers overshadowed better-than-expected quarterly results and an upbeat outlook.
- A recent bearish divergence between the RSI indicator and price signaled a waning buying momentum ahead of the company’s quarterly results.
- Investors should watch crucial support levels on Reddit’s chart around $180, $158, $139, and $104, while also monitoring a key overhead area near $230.
Reddit (RDDT) shares were lower in early trading Thursday after the social discussion platform’s underwhelming user growth overshadowed better-than-expected quarterly results and an upbeat outlook.
While the company’s daily active unique…
