Redfin stock: buy or sell
Jan 18th, 2021
Redfin stock brief
- Redfin stock sliced -1.17% to close at $76.77 on the stock market today, after 3 consecutive sessions in negative.
- Redfin Corporation operates as a real estate brokerage company in the United States and Canada.
Should I buy Redfin stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $RDFN stock a buy?
In the current situation of Redfin there is not any eligible buy setup. This doesn't mean $RDFN will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Redfin stock?
When you own stock shares with some profit, it's really hard to decide the good moment to sell and get your profits. Just as when we have to buy shares, deciding when is the best time to sell is not a fickle decision, and we must adhere our own trading strategy. When selling, as well as buying, our setups are very easy to use and are only applicable for selling shares in your porfolio, not for selling short $RDFN stock
As a rule of thumb, you must never keep a trading operation that leads to greater losses than those expected by the time of the buy. The moment to sell shares should always be ruled by the stop-loss (automatic or manual)
Is it time to sell Redfin stock?
In the current situation of Redfin there is not any eligible sell setup, so Redfin stock holders with operations in profit can keep their positions
In the last month, 4 brokerage ratings were published for Redfin
|Dec 21st, 2020|
|Jan 6th, 2021|
|Wedbush||Buy → Buy|
|Jan 12th, 2021|
|BTIG Research|| |
Redfin stock analysis
Supports and resistances
The current resistance levels are:
The current supports are:
Relative strength index
The RSI dropped below the overbought level of 70 last Wednesday after just crossing to the overbough zone for just one day (weak signal). The RSI value last Friday was 62.35
Redfin stock price history
Redfin went public priced at an adjusted price1 of $19.56 on Jul 2017. Since then, RDFN stock has risen by 292.48%, with an average of 97.49% per year. An investment of $1,000USD on Jul 2017 would worth $3,924.85 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Redfin stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are published every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, brokerage institutions release their price target based on the stock price action and the company fundamental data. Most of these forecasts follow the release of new fundamental information by the company, and usually. If you are a small investor you shouldn't trade based on these projections.
The average price target for Redfin stock calculated from the table below is $85.00. Redfin closed at $76.77 last Friday, so the target price is predicting an increase by 10.72%.
|Brokerage firm||Price target|
|Dec 21st, 2020|
|Truist||$63.00 → $84.00|
|Jan 6th, 2021|
|Wedbush||$59.00 → $86.00|
|Jan 12th, 2021|
|BTIG Research||Not available|
Earnings and financials
Redfin Corporation ($RDFN) came out with quarterly earnings of $0.30 per share last November, highly upping the Market consensus estimate of $0.25 per share. This quarterly report represents an earnings surprise of 20.00%. Revenue resulted of $236.9 million compared to $227.0 million forecasted by analysts.This compares to Earnings of $0.07 per share same quarter last year, so current EPS means an improvement of 328.57%. Turnover only changed on an annualized basis in the , from $2.4B to $2.4B last quarter.
Redfin ($RDFN) will host the earnings call mid next February. Forecasted for this quarter is $0.04, compared to $0.30 that was reported for Q3.
Disclaimer:The comments expressed in this article are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this document does not have an understanding of the particular conditions of the reader, his or her financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are expressed for learning purposes only
|Friday, January 15th, 2021|
|Day range||$74.51 - $78.13|
|Average true range||$5.18|
|50d mov avg||$59.40|
|100d mov avg||$53.90|
|200d mov avg||$43.03|
|Earnings date||February 10th, 2021|