Account Info
Log Out
Log in to access Online Inquiry
Back to the Top
Reddit soars 75% cumulatively: Will you buy it?
Views 57K Contents 112

Reddit is Becoming Illiquid

SpyderCall joined discussion · Apr 5 17:01
Reddit Check-In: 4/05/2024
Where is All of the Liquidity
Once again, the volume is dying off. Each day this week, we saw less and less volume being traded. Today had the lowest daily volume we have seen. Are traders done with this ticker? Or are they just waiting for the price action to pick a direction?
Reddit is Becoming Illiquid
Reddit is Becoming Illiquid
Barcoding is a Sign of Illiquidity
You can see the barcoding in the charts. When you see multiple gaps in price, candles with only one transaction, and multiple dojis with long wicks, then you are seeing barcoding price action. This happens when there is not a lot of buying and selling going on.
Even though there were over 2 million shares traded, the chart is still printing barcodes. RDDT is becoming an illiquid ticker.
Personally, I never touch illiquid tickers unless I am anticipating a quick day trade. Like you would see with the low-priced runners that rip in premarket and after-hours trading. Illiquid tickers can not gain any momentum in either direction as there is no volume to provide the inertia.
Reddit is Becoming Illiquid
Moo'ers Are Bearish
The poll has ended. Most voters were bearish towards RDDT this week. Reddit actually had a neutral week with low volume and very little movement. Check out the results of the poll directly below.
Reddit is Becoming Illiquid
Reddit is Becoming Illiquid
Let's roll up and out on this poll. How do you think Reddit will perform next week? Where will the price be at the close of next Friday?
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.