Reddit jumped from $155 to $184 in a single session last week, and has since slid back to $164, giving up a large share of that advance.
Four things line up between $157 and $163: the lower half of the price gap the surge skipped over, a 79% giveback of the rally, the 20-day average price line, and old resistance now acting as support.
If $151 breaks, however, it would mean August's surge was a failed breakout from the start, which is why the stop sits just under the prior low at $152.
The full analysis is for members
Analysis by methodology (ICT, Wyckoff, Elliott, divergence, macro, news), invalidation levels, R:R and confidence are in the member report.
