RDDT also needs to make a decision. Down in premarket today.

*downtrend line < I said uptrend line near end of video for a downtrend line, so don't get confused...plus an accidental video appearance lol

RDDT! going sideways since the end of last month, and still below major moving averages. In some ways I still think this is going to chop. Doesn't mean you can't trade on the smaller chart timeframes but we need to see a direction chosen not just on this stock but also the broader market.

A few things to ask/note:

• Where are we in the range?
  
• Is the market (SPX/QQQ) also showing weakness, or is it holding up?
  
• Is this gap on volume or just noise? If volume is light, it could be a fake-out.
  
• Is there a reason for the gap down? if it does so this morning
  

Reminders for my swing traders

• No entries before 11am (or your specific time to let noise die down)
  
• Let the first hour play out to see if it’s a trap gap or real momentum.
  
• Watch for retest of premarket low to give more directional clarity.
  

Anyone else trade RDDT?