Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Since the July 12 trading session, RDFN stock was consolidating in the range between $17.84 to $13.87.</a> </li> 
 <li> <span>2</span> <a>In the 52 weeks trading session, RDFN stock’s highest traded price was $17.68, and its lowest traded price was $3.08.</a> </li> 
 <li> <span>3</span> <a>RDFN shares was trading below the 20/50/100/200 EMAs at press time.</a> </li> 
</ul> 
<p>NASDAQ: RDFN stock’s lowest traded price was more than 24% of its trading price earlier on August 3; prices were trading in the range of $14, but a steep decline was mirrored just after the release of Q2 earnings. After analyzing the candlestick pattern, it is noted that a group of investors might have exited their position and opted for selling.&nbsp;</p> 
<p>Since the July 12 trading session, RDFN stock was consolidating in the range between $17.84 to $13.87. If buyers fail to dominate sellers in the coming session, the price might fall below $10 and start trading in the consolidation range of $9 to $6.&nbsp;</p> 
<p>If sellers continue to fuel the bearish momentum, the price might fall further, and RDFN stock might start trading below $9.40, its annual price target. RDFN stock price fell more than 23.97% in the weekly and monthly time frame and 18.08%.</p> 
<p>In the 52 weeks’ trading session, RDFN stock’s high was $17.68, and the low was $3.08. RDFN shares were tradng below 20/50/100/200 EMAs at press time. Redfin Corporation’s market capitalization is $1.202 Billion.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/qOKbTK7jhat6MGj22ZTxpVr7cbDokSB636OKSHJ0L-F05n7C5MfEuCKM1Qrl2e2jXxwyTshGyMUOWr0DO0DW5S3GyYM2pHNJhh0e7Hg9Uyyw5IQyh5ujmRPNTcU2tn4hdMBQ5dAUpzCtgPUbN9-hFvA" alt="RDFN Stock Declined 24% Intraday Following Negative Earnings"> 
  <figcaption class="wp-element-caption">
    Source: RDFN stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>TradingView data shows more than 105 Million Redfin Corporation shares are free floating. The remaining 5.218 Million shares are closely held by the company’s financial backers or the board of directors.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-redfin-corporation-earnings-revenue-strong"><strong>Redfin Corporation Earnings &amp; Revenue&nbsp;</strong></h2> 
<p>Recently, on August 3, <a href="https://www.thecoinrepublic.com/2023/08/04/costco-stock-price-prediction-can-cost-stock-fall-below-550/" target="_blank" rel="noopener noreferrer nofollow">Redfin Corporation</a> published its Q2 2023 revenue and earnings; as per the reported data, revenue remained within the estimated revenue of $275.70 Million. Following the decline in revenue, RDFN Stock prices slipped over 24% on August 4.&nbsp;</p> 
<p>Despite losses in revenue, Earning Per Share bypassed by 45.46% in Q1 2023 and by 25.52% in Q2. From the reported revenue of Q1, the company’s net income was -$60.80 Million, and its profit margin was -18.67%.&nbsp;</p> 
<p>In the financial year 2022, <a href="https://www.thecoinrepublic.com/2023/08/04/ebay-stock-price-prediction-will-ebay-stock-descend-more/" target="_blank" rel="noopener noreferrer nofollow">the company</a> generated 13% of gross profit, 10% of earnings before interest, taxes, depreciation, and amortization (EBITDA), -14% of earnings before interest and taxes (EBIT) and -14% of net income.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>RDFN shareholders need not worry as the recent breakout in the trading price seems to be a short-term decline. More bullishness is expected rather than bearishness. If buyers prove their dominance in Monday’s trading session,&nbsp;</p> 
<p>then the price might surge above $13.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<p>Resistance Level: $13.87 &amp; $17.84</p> 
<p>Support Level: $9.69 &amp; $6</p> 
<h4 class="wp-block-heading"><strong>Disclaimer&nbsp;</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

RDFN Stock Declined 24% Intraday Following Negative Earnings

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Thecoinrepublic.com

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