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October 30, 2024

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The analysis found that a network dubbed “Storm-1516” — which has a history of producing staged videos and deepfakes that parrot the Kremlin’s propaganda – has close connections with a group created by the late Russian oligarch Yevgeny Prigozhin.

The Russian Foundation to Battle Injustice (R-FBI), founded by the former Wagner mercenary boss in 2021, is part of a multi-pronged disinformation effort that has increasingly pivoted from false claims about the Ukraine war to focus on the 2024 US presidential election. The group, which casts itself as a “human rights” organization, is led by Mira Terada, a Russian woman who served more than two years in a US prison on money laundering charges.

The R-FBI organization and the Storm-1516 campaign are among a multitude of active Russian disinformation efforts, many of them overlapping, according to US and European intelligence sources. They use American and foreign social media influencers to promote propaganda and disinformation in the West.

In recent weeks, the network has invented stories out of whole cloth targeting Vice President and Democratic presidential nominee Kamala Harris and her running mate, Minnesota Gov. Tim Walz. They range from fabricated claims that Harris was responsible for a hit-and-run in San Francisco and shot an endangered rhino while on safari in Zambia, to a baseless allegation that Walz sexually assaulted a student.

The Harris campaign has previously expressed concern that media coverage could amplify false Russian claims. Responding to a request for comment on the Russian disinformation narratives attacking Harris and Walz, Morgan Finkelstein, national security spokesperson for the campaign, said: “Vladimir Putin wants Donald Trump to win because he knows Trump will roll over and give him anything he wants. We condemn in the strongest terms any effort by foreign actors to interfere in U.S. elections.”

NBC and Wired have also covered the narratives, attributing them to Storm-1516.

Clemson said it was able to connect Storm-1516 to R-FBI by using scraped data and social listening software to analyze their historical, technical and organizational ties.

“We have found Storm-1516 to be tightly connected to the Russian Foundation to Battle Injustice (R-FBI). Their behavior is much too closely linked than would reasonably occur by accident or simple correlation in aims,” Darren Linvill and Patrick Warren, co-directors of Clemson University’s Media Forensics Hub, wrote in their report published Wednesday. “R-FBI affiliated individuals also frequently share Storm-1516 narratives on their own blogs or news pages. All of this is done at strategic times and routine rates not possible by chance.”

The disinformation campaign has ramped up ahead of the November 5 election, and as US intelligence agencies warn of a major Russian government-backed effort to influence the vote in favor of former US president Donald Trump, who they assess is the Kremlin’s preferred choice. The Biden administration in September announced a sweeping set of actions to tackle the Russian campaign, including unveiling criminal charges against two Russian nationals, sanctions on 10 individuals and entities, and the seizure of 32 internet domains.

Warren and Linvill note that the themes and methods used by Storm-1516 and R-FBI are consistent with those deployed by Prigozhin’s now defunct Internet Research Agency (IRA), widely known as Russia’s troll factory.

One of the recent fake Storm-1516 videos, which was shared by R-FBI network members, showed a man alleging an endangered black rhino was killed during a “diplomatic visit” to Zambia. “It was a female American politician. Her name was Kamala,” the ranger said, claiming that she shot a young rhino while on safari at North Luangwa National Park, and the incident was “swept under the rug.”

Another staged video attributed to the network featured a young woman claiming that Harris paralyzed her in a hit-and-run in San Francisco in 2011. US intelligence agencies assessed that a Russian operation produced the video. Like other disinformation that has gained traction, the video appeared to be staged with an actor rather than manipulated using AI. It was shared by a fake news outlet, “KBSF-TV.”

Many of the websites associated with the Russian disinformation network sound like American media outlets, with names such as The Miami Chronicle, The Boston Times and DC Weekly – a technique that was also used by the IRA.

But they are just fronts for narratives invented in St. Petersburg, where Wagner has its headquarters – an office also used by R-FBI, according to Russian media reports.

Influencers linked to R-FBI come from around the world and, according to Clemson, are often the first social media accounts identified “sharing specific Storm-1516 narratives.”

One American has been actively involved in spreading the fake stories: John Mark Dougan, a former Florida sheriff’s deputy who fled to Moscow in 2016 after facing felony charges of wiretapping and extortion in the US. Granted asylum in Russia, Dougan has become a vocal player in the Kremlin’s disinformation ecosystem, but a senior European intelligence official says he is a small cog in a much larger wheel.

Dougan is part of a constellation of characters promoting pro-Russia talking points through fake videos and websites. A Clemson report last year connected Dougan to the fake news website DC Weekly through a domain and internet protocol address shared by his personal website and two sites marketing his books. The use of real people is a departure from tactics used by Prigozhin’s IRA, which often distributed disinformation through bot networks, but much of the messaging is the same.

An official from the Office of the Director of National Intelligence (ODNI) told reporters last week that the content contained “several indicators of manipulation that are consistent with the influence efforts and tactics with Russian actors.” The US State Department said there was no record of a Kazakh exchange student at the Minnesota school at that time.

On October 24, the same X account carried fake video purporting to show an individual ripping up mail-in ballots for Trump in Bucks County, Pennsylvania. Within three hours it was reposted tens of thousands of times.

Local election officials swiftly debunked the video. A day later, the ODNI, FBI and Cybersecurity and Infrastructure Security Agency said the video had been manufactured and amplified by Russian actors. Linvill said Clemson identified the video as a Storm-1516 narrative based on the way it was produced and distributed, adding: “It’s gonna be a rough couple of weeks.”

In an analysis of 25,000 fake stories posted by Storm-1516 and websites affiliated with Dougan between July 2023 and February 2024, Clemson researchers found just 49 included three or more images or video. Of those 57% were identified as Storm-1516 narratives, and 27% were stories from the R-FBI, showing a shared ecosystem.

“While there is no evidence Dougan is responsible for the creation of the narratives themselves, he claims responsibility for a series of AI-generated, fake news websites that have been used to covertly disseminate Storm-1516 messages,” Clemson said in their report.

‘Centralized and orchestrated from above’

In May 2021, Mira Terada arrived at Moscow’s Sheremetyevo International Airport, after serving jail time in the US. She was greeted by one of Prigozhin’s closest aides, Maxim Shugaley, who presented her with flowers, according to a video posted on his Telegram account.

Shortly after, Terada announced she would head up Prigozhin’s R-FBI (its name a nod to the Federal Bureau of Investigation adding him to its most-wanted list). The organization describes itself as a “independent non-profit organization supported by private donations from Russian citizens” and publishes content in Russian, English, German, and French.

Once known as Russian President Vladimir Putin’s “chef,” Prigozhin ran the Wagner paramilitary force before falling foul of the Kremlin and leading a short-lived mutiny in June 2023. He died in a mysterious plane crash two months later, but his influence still looms large.

Terada attended the headquarters’ opening in November 2022 along with other key figures in Russia’s information landscape: Konstantin Pridybaylo, a prominent journalist with state media outlet RT, and Ruslan Ostashko, a Russian TV presenter whose Telegram channel has nearly half a million subscribers.

The Biden administration has sought to blunt RT’s influence ahead of the elections and expose what it says is the Russian state media network’s key role in the Kremlin’s global intelligence and influence operations. In September, the US Justice Department charged two RT employees for covertly funneling nearly $10 million into a US company to create and amplify content that aligned with Russian interests.

Still, Gerard says that R-FBI and other Russian operations are unlikely to influence the outcome of the US election. “Their goal is less ambitious. They simply want the international community to believe that they have the power to influence, to destabilize. They want to be spoken about,” he said.

To that end, Terada has gathered a network of would-be influencers to propagate a range of false stories. She also chairs the BRICS Journalists Association (BJA), which includes foreign reporters in Russian allied states.

Terada has appeared with those reporters, and John Mark Dougan, at media events and conferences. In March – in one of several public appearances together – she stood with Dougan at the launch of his book “Betrayal of the Truth,” and quoted the Russian ultra-nationalist Alexander Dugin as saying the book was a “way to convey the truth about the incredible crimes of American globalist minorities against humanity.”

Last week, The Washington Post reported that Dougan had connections with Dugin’s Moscow institute, the Center for Geopolitical Expertise, and cited documents obtained by a European intelligence service that it said showed Dougan was provided funding by an officer from the GRU, Russia’s military intelligence service.

Another prominent figure in propagating Russian disinformation is American Tara Reade, a former Senate staffer who in 2020 accused then-presidential candidate Joe Biden of sexual harassment.

Reade defected to Russia in 2023 and became a contributor to RT. She has shared Storm-1516 narratives on her X profile 32 times over the last year, and has appeared on the R-FBI website six times, according to Clemson.

The links between Terada’s group and other Russian disinformation efforts are at best opaque, which is likely no accident. The Kremlin has opted for nodes of activity, some closely related to the state’s intelligence services, others less so.

“It’s very centralized and orchestrated from above, but it can sometimes be chaotic and less coherent. There are actors that take their own initiative… and it’s hard to tell sometimes if individuals are acting alone or as a part of a group.”

The Clemson researchers also acknowledge the challenges in establishing the exact organizational relationship between Storm-1516 and R-FBI, but said they were part of a “common structure.”

“The Storm-1516 narratives have had the biggest impact of any Russian disinformation operation the last four years… It means that whoever’s behind Storm-1516 is the most impactful actor. And the strongest evidence that I have is that an entity, either in or behind the R-FBI, is behind Storm-1516,” Warren said.

Sean Lyngaas contributed reporting.

Clemson researchers gathered the full set of R-FBI reports by scraping their website and used qualitative hand coding of individual R-FBI reports to organize them into categories and then counted those over time. To document the connections between the R-FBI influencers and the R-FBI and Storm-1516, researchers used the scraped data from the R-FBI website to find all mentions of those personalities and their full account histories on X (from Sprinklr) to measure how often and early they shared Storm-1516 and R-FBI content.

This post appeared first on cnn.com

Overall Analysis

    1. Bitcoin tries to break the previous day’s high of $68759 but fails and closes negative. 
    2. Ethereum opened sideways and continued directionless moments in the last hours, showing a rally towards the upside. 

Bitcoin Chart Analysis

BTC/USD 15-Minute Chart (Source: TradingView)

On October 25th, Bitcoin (BTC) broke the previous day’s high of $68,759 within 15 minutes but faced a major rejection at this level, forming a double-top pattern on the chart. Later that day, the price broke the neckline of this pattern, delivering returns of up to 2%. On a larger time frame, such as the daily chart, we can observe that the price is currently moving within a channel and attempting to break higher levels.

Analyzing the RSI, we see that Bitcoin faced rejection due to an overbought scenario, as the price moved upward too quickly without consolidation. This led to a price reversal at that level.

Currently, the price is pausing at higher levels, with the RSI providing support. If the price breaks through the current resistance, buyers can enter with a target of $69,385 and a strict stop loss of $68,350.

However, if the price once again faces rejection at higher levels, it could form a triple top pattern, which presents a potential trading opportunity with a small stop loss and higher profit targets.

Ethereum Chart Analysis

ETH/USD 15-Minute Chart (Source: TradingView)

On October 27th, Ethereum continued to display sideways momentum, creating opportunities for scalping trades only. On a larger time frame (daily chart), Ethereum is trading in a tight range, which means even small swings on smaller time frames are driving the RSI into overbought territory.

The current level shows limited room for upward movement, as $2,556 acts as a major rejection level. A retest of the supporting trendline could trigger a buying opportunity. If the price holds the support, traders can enter with a target of $2,556 and place a stop loss below the recent swing low.

If the second largest crypto continues to make higher highs and higher lows, breaking the $2,556 level could provide a safer entry, with a stop loss below the swing low and targets at $2,585 and $2,621.

Option sellers can also take advantage of the sideways market by selling 2700 CE and 2300 PE options.

The post BTC and ETH: Technical Analysis of Recent Price Action appeared first on FinanceBrokerage.

McDonald’s is geared up to report its third-quarter results on Tuesday morning against the backdrop of a recent increase in scrutiny after an E. coli outbreak linked to its Quarter Pounder burgers. The Centers for Disease Control and Prevention (CDC) issued a warning last week, associating 75 cases, one of them a fatality, with the diced onions that go in the burger. McDonald’s headlined by yanking the item out of its menu at 20% of its US locations. Still, it is rescheduling the re-release of the burger without onions once health authorities declare their non-GMO beef patties as consumption-safe.

Even though the company is dealing with reputation issues, the analysts had already predicted that the company would face a difficult situation in the earnings report because of the worldwide business recession.

Worldwide inflation has brought down the buying pattern among world consumers, which has played a part in a 0.6% drop in same-store sales for the third quarter of the year. United States of America’s market is still the shining light where McDonalds have attracted more customers with low-price deals such as a $5 combo meal, which the store introduced in June. This will boost the USA reports of the same store, which should increase by 0.5%.

Market Cap Holds at $210B: All Eyes on Q3 Report

McDonald’s stock has been taking a hit as it has declined by 6% since the outbreak news broke out, and at the same time, the stock has remained unchanged in the year to date and has a market cap of approximately 210 billion dollars.

The company’s approach to health-related crises and customer loyalty in a less-buoyant economic backdrop will be features that investors pay attention to as they await Tuesday’s report. Operations in the time-out phase will sheer to whether McDonald’s can add the growth path without any loss in public trust or not.

Mcdonalds Stock Chart Analysis

MCD/USD 15-Minute Chart

Valuing McDonald’s stock (NYSE: MCD), the current trading price is $296.79, which means that it is up by 1.43% on October 29, although it is still far from the highest point of the stock at $317.90, which was reached at the past. The stock, from a technical viewpoint, had a strong reaction in the form of a rally during the period of July to September when it rose from around $270 to above the $300 point. However, the investors’ continued positivity stopped when the E. coli crisis, which was also the reported E. coli outbreak with the retailer, overshadowed the company.

McDonald’s RSI stands at 43.05, which means that the stock is changing in the neutral to slightly oversold region. It could be a prospect for buying when the psychology stabilises. McDonald’s RSI levels were over 65 earlier this year. Yet, the RSI dip recently tells us that the market has lost some of its shine as a result of weaker sentiment, mostly due to some health issues and inflation-rise-related consumer cautiousness.

Analysts Expect 0.6% Drop in Global Sales

The upcoming McDonald’s Q3 earnings report has been a source of worry for analysts, who predict a 0.6% reduction in same-store sales worldwide as a consequence of the weaker international demand. Meanwhile, the US market holders remain confident that same-store sales should increase by 0.5%. They attribute this positive move to new offerings such as the $5 combo meal.

Technically, we will be tracking the $290 mark as the main support. In the event that McDonald’s can sustain that zone, a potential rally can be realised. Conversely, the underperformance of earnings may trigger a decline below $290, which can imply more downside. But earnings stick below $290; look out; it possibly could get worse.

The Q3 earnings report is among the things that one should pay attention to because it enables them to know what kind of steps the management to implement during a crisis and their forecast of US sales. Because of the $290 level, if Mcdonald’s remains above it, we might profess to buy even more—think about accompanying your profits to a loss if earnings have a good outlook!

The post McDonald’s Stock Eyes Q3 Report Amid E. Coli Crisis appeared first on FinanceBrokerage.

Top Gainers

Symbol Company Name Price Change %
SANTOS Santos FC Fan Token $5.17 +57.15%
PROS Prosper $0.4042 +28.53%
ALPINE Alpine F1 Team Fan Token $1.56 +17.50%
CTK CTK $0.66703 +17.00%
ENA Ethena $0.3885 +16.50%

Top Losers

Symbol Company Name Price Change %
OOKI ooki $0.00054 -12.20%
AST AirSwap Coin $0.0782 -11.64%
TORY Tory $0.00216 -9.09%
KP3R Keep3rV1Token $24.62 -7.20%
SXP SXP $0.2552 -6.90%

 

On Wednesday’s trading session, Bitcoin showed a strong buying rally and successfully broke the $70,000 mark. Ethereum, on the other hand, gave up the move in the last four trading sessions major rejection from the $2750 level. 

BTC/USD

ETH/USD

#1 Gainer: SANTOS Token

With over 150% returns in just one single day, Santos turned out to be the top gainer in crypto. On the 28th Oct trading session, Santos made a remarkable move after Binance announced SANTOS, Santos FC Fan Token listing. 

On the 28th Oct trading session, SANTOS trading volume was up by 2,244.57%. This news boosts the fans’ momentum, making crypto skyrocket. Binance officially announces the SANTOS listing, but possible changes and adjustments will be made looking at the market post-listing. 

Not only SANTOS but other crypto like Alpine F1 Team Fan Token also surged by 32.57% due to the news, as hopes among the traders increased. 

SANTOS/USDT 15-Minute Chart

Fundamentally, the crypto is all set to gain a bundle of trust from the market movers, but looking at the technical aspect. We can see that though the price moved upwards rapidly, it faced rejections from higher levels. 

The really can be considered as news based. Though after the selling trend, there was a creation accumulation zone, and the price broke out of it, currently price in in up trend.

If looking for an entry, then we have it once the price breaks the $5.82 and gives a close above the level, with the targets of $7.29 and $8.87 and a stop loss at $4.70.

#1 Loser: OOKI Token

OOKI crypto made an all-time low on the 28th Oct trading session, indicating a huge selling scenario. Selling continues as Binance goes through the delisting of OOKI with three other tokens. The delisting will take place on 6th Nov 2024; margin borrowing has been suspended since 25th Oct 2024. Binance will support withdrawal until 6th Feb 2025. 

This sudden action by Binance was taken based on a multiple checks list which the token has to go through on a regular basis. This entire delisting news raised panic among the traders, hence resulting in huge selling. 

OOKI/USDT 15-Minute Chart

As per news, fundamentally the token is going to be delisted from the Binance. Suppose you are looking to create a selling position for the token:

  1. Enter the selling side with the stop loss of $0.000842 and targets based on trailing stop loss. 
  2. Wait for the price to retest the $0.001177 level. Once the price rejects the level, enter the trade with targets of all-time low and stop loss of $0.001589. 

Note: OOKI will be delisted from the platform as of 6th November 2024 due to low-volume traders getting trapped. Make a position based on your own research. 

The post Top Crypto Gainers & Losers: SANTOS Token +57%, OOKI Down appeared first on FinanceBrokerage.

Top Gainers

Symbol Company Name Price Change Change %
PRCT Procept BioRobotics Corporation  91.00 +22.23 +32.33%
OKLO Oklo Inc.  24.50 +5.39 +28.21%
DJTWW Trump Media & Technology Group Corp.  8.73 +1.55 +21.59%
DJT Trump Media & Technology Group Corp.  47.36 +8.41 +21.59%
NBIS Nebius Group N.V. 23.75 +4.18 +21.36%

Top Losers

Symbol Company Name Price Change Change %
PHG Koninklijke Philips N.V. 26.62 -5.05 -15.95%
CX Cemex, S.A.B. de C.V. 5.46 -0.52 -8.70%
NYCB Flagstar Finance  10.55 -0.95 -8.26%
QS QuantumScale Corporation  5.69 -0.50 -8.08%
ADT Adt Inc.  7.37 -0.51 -6.47%

 

On the 28th Oct trading session market gave a gap-up opening, indicating bullish momentum by continuing the rally in the first 15 min. Later market totally went sideways with small swings.  

  • NYSE Composite: +93.4 (-0.48%)
  • Dow Jones: +273.17 (-0.65%)
  • S&P 500: +15.40 (+0.27%)

#1 Gainer: PRCT Stock

On October 28th, Procept BioRobotics Corporation (NASDAQ: PRCT) stock reached a new high of $91.24 during the trading session. Company value has skyrocketed by 237.14% in just one single year. With constant progress and innovation in the medical sector, the company has successfully fulfilled their promises, resulting in gaining investors’ trust. 

FDA gave the green flag for a pivotal trial in prostate cancer, comparing it to Aquablation therapy to traditional radical prostatectomy. From the current development, the company is expecting $50 million in annual revenue starting from 2026, as the company has started seeing a significant 61% increase in total earnings for the second quarter of 2024, reaching $53.4 million. FDA has also approved AI-integrated treatment planning and advanced image guidance. 

Technical Analysis

PRCT/USD Stock 15-Minute Chart

Fundamentally, the stock has a lot of strength to move upward; looking into technical aspects, we can see stock delivered a whopping 32.33% return in just one single day. The stock was in an up trend on a daily basis for a long time, indicating the strength in buying. 

Yesterday, the stock opened a gap up and continued to rally upside taking RSI into the overbought zone. Looking for an entry at the current price might get difficult as the stock has made an all-time high with a big gap up space, and if we look at the historical data, then we can see price reverses from a higher level when RSI goes in the overbought zone, as shown in the image. In this situation, there are two entry points. 

  1. This can be a high-risk, reward trade. Using the Fib retracement tool from the 28th Oct high to the 25th Oct low, we can plan an entry if the price faces rejection from the 0.5 level with the stop loss below the buying candle and a target of an all-time high. As the stock is in the news, it might give a rally from this level. 
  2. This trade can give you a low-risk, high-reward ratio, as the price is moving upwards while making a swing and trend line. If the price comes to retest the supporting trend line, then an entry can be made with a stop loss below the trendline and target of all-time high. 

#1 Loser: PHG Stock

Koninklijke Philips N.V. (NASDAQ: PHG) stock tanked 15% on the 28th Oct trading session. As demand from china deteriorates, Dutch cuts its 2024 sales outlook. Recently company posted its Q3 result, which fell short of expectations. Philips CEO said while there is a fall in China demand, they see growth from other regions. 

There is a huge shortage in demand from hospitals and consumers from China, resulting in 3rd Quarter sales of 4.38 billion euros, which is less than compared to last year, which was 4.47 billion euros. 

The investors seem to be disappointed due to low earnings and demand from the chain, resulting in huge sales. 

PHG/USD 15-Minute Chart

Looking at the chart on a daily time frame, we can see the price has corrected by 15.95% in just one single day. Price was in an uptrend for a long time, taking support from the trendline while creating a rising wedge pattern. Still, on the 28th Oct trading session, the price broke the trendline on the 25th Oct trading session and continued its downward rally consecutively on the second day. 

Currently, price is a channel, and making an entry based on FOMO can result in losing money, as RSI is now in an oversold zone. There are two setups in which sellers can make a position. 

  1. If the price comes to retest the $27.98 level and takes rejection, then entry can be made with a target of $25.06 and stop loss of $29.50.
  2. On the other hand, if prices continue to fall and break the $25.09 level, then entry can be made once the price comes to retest the same level with the trailing target of $20.82 and stop loss of $27.  

The post Top Stock Gainers & Losers: PRCT Stock +32%, PHG -16% Drop appeared first on FinanceBrokerage.

Reddit stock gains momentum as the company’s first profitable quarter marks a significant milestone, pointing to a turning point for the social platform that has been unprofitable for almost two decades.

It saw a cool $29.9 million profit on top of revenue of $348.4 million – a 68% increment from last year as its user base grew and ads generated profit. This shift, really, has just been quartered after Reddit reported $575 million in losses when it went public, but it has made up those numbers with strategic reductions and revenue increases.

Daily Users Jump 47% to 97.2M

Primarily, the daily user base of Reddit, which now counts over 97.2 million heads, an impressive increase of 47% since last year, is considered the major reason for the company’s climb to recent success.

According to Reddit CEO Steve Huffman, the platform’s automated translation features, which are available in several languages, are driving high user engagement. The platform now sees over 100 million daily users actively using these translation features. This expansion is part of Reddit’s plan to increase its global presence by entering more than 30 new markets by 2025.

The platform’s advertising income grew substantially to $315.1 million, while “other” revenue channels like data licensing provided additional support. Reddit’s alliances with some of the prominent names in the technology world, such as Google and OpenAI, who utilise Reddit’s data in teaching AI models, clearly show the platform’s influence and revenue potential in the AI industry.

Reddit plans to improve its search function. It also aims to increase translation services. These improvements could add more user value. This could make Reddit stock more attractive for investors. The company’s ability to maintain profitability will be crucial. Reddit continues to grow in its industry. Its user base keeps expanding. The company’s monetisation strategies are advancing.

Reddit Inc. Stock Chart Analysis

RED/USD 15-Minute Chart

Reddit Inc. (NYSE: RDDT) stock showed a little bit of volatility on 30 October, with shares being traded at $81.70, which is 0.93% down from the session. The technical picture displays a recent high of $82.97, giving way to resistance at that level, whereas support seems to be holding near $76.67. At the moment, the stock price is meandering in the $81–$82 range, thus limiting the upside in the near term.

Reddit Inc. Stock Eyes $80-$83 Range

In the 15-minute chart, there are ups and downs. Still, the overall trend is bullish in the previous days, even though the momentum has been decreasing. The candlestick patterns show that sellers are around the $82 mark, which could suggest possible consolidation in the market shortly. On the other hand, if a break occurs above $83, it will mean the continuation of the upwards momentum.

The Relative Strength Index (RSI) reads 47.56, sitting close to 50. This indicates that traders have neither overbought nor oversold Reddit stock at the current time. This implies that we are more or less coming out of one trend and cruising in another, and therefore, highly volatile price moves will not occur. Nonetheless, if the RSI falls under 40, it could mean additional downside pressure.

In the near term, the Reddit stock might likely be trading in the $80 to $83 range. It is worth the extra attention on the $83 resistance level because of a possible breakout or watch a move below $80, which might be additional risks to the downside.

The post Reddit Stock: Company Reports First-Ever Profit of $29.9M appeared first on FinanceBrokerage.