Time to Sell Redfin Corporation (RDFN) After The Completion of This Bearish Multiple Bottom?

May 16, 2018 - By Harriett Tippett

The stock of Redfin Corporation (RDFN) shows a multiple bottoms pattern with $19.53 target or 9.00 % below today’s $21.46 share price. The 5 months chart pattern indicates high risk for the $1.78B company. It was reported on May, 16 by Finviz.com. If the $19.53 price target is reached, the company will be worth $160.20 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 2.50% or $0.55 during the last trading session, reaching $21.46. About 1.67M shares traded or 23.79% up from the average. Redfin Corporation (NASDAQ:RDFN) has 0.00% since May 16, 2017 and is . It has underperformed by 11.55% the S&P500.

Analysts await Redfin Corporation (NASDAQ:RDFN) to report earnings on September, 6. They expect $0.03 EPS, down 50.00 % or $0.03 from last year’s $0.06 per share. RDFN’s profit will be $2.49M for 178.83 P/E if the $0.03 EPS becomes a reality. After $-0.44 actual EPS reported by Redfin Corporation for the previous quarter, Wall Street now forecasts -106.82 % EPS growth.

More notable recent Redfin Corporation (NASDAQ:RDFN) news were published by: Benzinga.com which released: “22 Stocks Moving In Friday’s Pre-Market Session” on May 11, 2018, also Seekingalpha.com with their article: “Redfin: Cloudy Outlook” published on May 11, 2018, Prnewswire.com published: “Redfin Report: Shrinking Supply Sends Prices for Luxury Homes Up Nearly 8 Percent in First Quarter” on May 14, 2018. More interesting news about Redfin Corporation (NASDAQ:RDFN) were released by: Streetinsider.com and their article: “Pre-Open Movers 05/11: (TTD) (IMMR) (AKCA) Higher; (SYMC) (CYTR) (RDFN) Lower (more…)” published on May 11, 2018 as well as Streetinsider.com‘s news article titled: “Redfin (RDFN) Tops Q1 EPS by 4c; Guides Q2 Revenues Above the Street” with publication date: May 10, 2018.

Redfin Corporation operates as a real estate brokerage firm in the United States. The company has market cap of $1.78 billion. The firm operates an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It currently has negative earnings. It also provides title and settlement services; and originate mortgages.

Redfin Corporation (NASDAQ:RDFN) Ratings Chart

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