Why Was Creatd Stock Flying Today?

Creatd Inc. CRTD shares traded higher Monday on continued momentum after social media traders saw the stock had high short interest.

The stock was also trending on social media sites such as StockTwits.

The stock trades with a 7.8 million share float, which is quite small and allows the stock to move rapidly.

Creatd was up 33.17% at $5.58 at last check Monday afternoon.

Creatd Daily Chart Analysis

• Shares have been trading in a sideways channel and recently were able to bounce at support. After a bounce at support shares saw a large run-up on Monday.
• The stock is trading above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the sentiment in the stock is bullish.
• Each of these moving averages may hold as an area of support in the future.

Key Creatd Levels To Watch

• The stock found support near the $3 level last week before seeing a large jump Monday. This level may hold again as support at some point in the future.
• The stock ran up to the $7 level before it found resistance. This level is a key area because it was previously the beginning to a very large gap in the chart. This gap may hold as resistance until the stock can break above the $7 level.
• The Relative Strength Index (RSI) sits at 66 and has been climbing throughout the past week. If the RSI can cross above the 70 level into the overbought level it may see a breakout and a large move upwards.

What’s Next For Creatd?

Bulls would like to see the stock continue to move higher and cross above the $7 resistance level. With some consolidation above this level the stock may see a higher move and continue its upward momentum.

Bearish traders would like to see the stock fail to break above the $7 level and start heading lower. If the stock rejects the $7 level and can cross below the moving averages, it may see a change in trend and sentiment.