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Audacity618
Feb 18, 2021 8:55 PM

Excessive Even for a Blockchain Stock Short

Riot Platforms, Inc.NASDAQ

Description

Using an absurd 75% - 20 day envelope on the chart which I think does the job of identifying extreme stretches for this stock. The recent pull back is reminiscent of a blow off the top formation. Don't see why RIOT couldn't halve back to the 30S in the coming weeks even with bitcoin above 50K. Should finish today with a bearish engulfing.

Comment

Please note this is also a log chart, so it may not naturally look stretched, but for a log trend this is stretched.
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