The Reddit retail frenzy is back in the markets once against and this morning it is the Clover Health (NASDAQ:CLOV) that has been targeted by retail traders from Reddit communities.
The Medicare insurance company saw its stock soar by 100% this morning as investors from Reddit communities piled on to it in a big way. As ever, the discussion around the stock started on the well known Reddit community WallStreetBets and that eventually led to the remarkable rally in the stock.
It should be noted that WallStreetBets now boasts of as many as 10 million members and hence, possesses the capability of moving markets. The stock had even hit three digits at one point this morning and it is likely that it is going to be on the watch lists of many investors over the coming days. In the early hours of trading, 300 million shares in the stock changed hands and that is much higher than the average daily trading volume of only 22 million shares in the Clover Health stock.
Moving Averages
| +/- EMA(20) | 9.39 (+106.07%) |
| +/- SMA(50) | 8.43 (+129.54%) |
| +/- SMA(200) | 10.60 (+82.55%) |
Technical Indicators
| Symbol | Value | Result | Symbol | Value | Result |
| ADX | 41.4604 | Buy | ATR14 | 0.9630 | |
| CCI20 | 290.5070 | OverBought | Chaikin Money Flow | 0.1886 | Buy |
| MACD | 0.3775 | Buy | Money Flow Index | 86.3042 | OverBought |
| ROC | 74.2690 | Buy | RSI | 76.3903 | OverBought |
| STOCH (14,3) | 98.5401 | OverBought | STOCH RSI | 1.0000 | OverBought |
| UO | 59.3838 | Buy | Williams %R | -1.4599 | OverBought |
 Stock Makes Surprising Move: New High Ahead?){kind=link}