REDFIN CORP. - 1H - Technical analysis published on 08/26/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 11.66 USD
My targets
12.68 USD (+7.71%)
14.27 USD (+21.27%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on REDFIN CORP. as long as the price remains well above 11.66 USD. The buyers' bullish objective is set at 12.68 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 14.27 USD. If there is any crossing, the next objective would be the resistance located at 17.01 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by euletthomas. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The REDFIN CORP. rating is 11.77 USD. On the day, this instrument gained +6.23% and was between 10.94 USD and 11.80 USD. This implies that the price is at +7.59% from its lowest and at -0.25% from its highest.10.94
11.80
11.77
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Abnormal volumes on REDFIN CORP. were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of this 1H chart of REDFIN CORP. indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 10.22 | 10.63 | 11.66 | 11.77 | 17.01 | 48.68 | 82.11 |
| Change (%) | -13.17% | -9.69% | -0.93% | - | +44.52% | +313.59% | +597.62% |
| Change | -1.55 | -1.14 | -0.11 | - | +5.24 | +36.91 | +70.34 |
| Level | Intermediate | Major | Intermediate | - | Minor | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.52 | 8.47 | 9.77 | 10.72 | 12.02 | 12.97 | 14.27 |
| Camarilla | 10.46 | 10.67 | 10.87 | 11.08 | 11.29 | 11.49 | 11.70 |
| Woodie | 7.71 | 8.56 | 9.96 | 10.81 | 12.21 | 13.06 | 14.46 |
| Fibonacci | 8.47 | 9.33 | 9.86 | 10.72 | 11.58 | 12.11 | 12.97 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.26 | 5.85 | 8.47 | 10.06 | 12.68 | 14.27 | 16.89 |
| Camarilla | 9.92 | 10.31 | 10.69 | 11.08 | 11.47 | 11.85 | 12.24 |
| Woodie | 4.77 | 6.11 | 8.98 | 10.32 | 13.19 | 14.53 | 17.40 |
| Fibonacci | 5.85 | 7.46 | 8.46 | 10.06 | 11.67 | 12.67 | 14.27 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.83 | 4.16 | 6.15 | 7.48 | 9.47 | 10.80 | 12.79 |
| Camarilla | 7.23 | 7.53 | 7.84 | 8.14 | 8.44 | 8.75 | 9.05 |
| Woodie | 3.16 | 4.33 | 6.48 | 7.65 | 9.80 | 10.97 | 13.12 |
| Fibonacci | 4.16 | 5.43 | 6.21 | 7.48 | 8.75 | 9.53 | 10.80 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 74.21 | |
| MACD (12,26,9): | 0.6500 | |
| Directional Movement: | 31.46 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 11.59 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.64 | |
| Elder Ray (13): | 0.58 | |
| Super Trend (3,10): | 10.66 | |
| Zig ZAG (10): | 11.71 | |
| VORTEX (21): | 1.2900 | |
| Stochastique (14,3,5): | 92.03 | |
| TEMA (21): | 11.75 | |
| Williams %R (14): | -6.77 | |
| Chande Momentum Oscillator (20): | 0.89 | |
| Repulse (5,40,3): | 3.8300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.9400 | |
| Courbe Coppock: | 34.02 |
| MA7: | 9.48 | |
| MA20: | 8.09 | |
| MA50: | 7.34 | |
| MA100: | 6.82 | |
| MAexp7: | 11.41 | |
| MAexp20: | 10.74 | |
| MAexp50: | 9.70 | |
| MAexp100: | 8.86 | |
| Price / MA7: | +24.16% | |
| Price / MA20: | +45.49% | |
| Price / MA50: | +60.35% | |
| Price / MA100: | +72.58% | |
| Price / MAexp7: | +3.16% | |
| Price / MAexp20: | +9.59% | |
| Price / MAexp50: | +21.34% | |
| Price / MAexp100: | +32.84% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The last news published on REDFIN CORP. at the time of the generation of this analysis was as follows:
- Redfin Report: Listings Surge, Luring Some Buyers Off the Fence, But Near-Record Housing Costs Price Others Out
- Redfin Reports Myrtle Beach, SC Becomes Popular Homebuyer Migration Destination for First Time
- New Builds Make Up One-Third of Houses on the Market, With High Rates Locking Up Existing Inventory
- The Typical Teacher Can Afford Just 12% of Homes for Sale Near Their School, Down From 30% in 2019
- Roughly 40% of Redfin Survey Respondents Who Reside in Texas, Florida Would Prefer Living Somewhere Abortion Is Legal
This member declared not having a position on this financial instrument or a related financial instrument.
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