Riskified Ltd: price increase amid positive news? 24/10/2023
Yesterday, 23 October, e-commerce security solution provider Riskified Ltd. announced a partnership with financial data network Plaid. It will allow the issuer to increase revenue through new transaction security customer offers. The Plaid and Riskified collaboration enables online merchants to accept ACH payments while protecting against fraud and insufficient funds.
This news may positively impact the Riskified Ltd (NYSE: RSKD) stocks; therefore, we focus on the company's stock chart today.
On the D1 timeframe, support has formed at 3.57, with resistance at 4.30. These levels are determined based on the price's highs and lows during the latest downward trend.
The support at 3.57 is strong since the quotes have not approached it for over a year. If the descending trend continues, a "false" breakout will likely form from this level, followed by a trend change.
On the H1 timeframe, if quotes return to 3.57, the next target for the price increase can be around 4.30. In this case, a rebound from support on D1 is expected.
In the medium term, the price can reach the target at 6.73. This level has served as resistance since the end of February 2023.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
This news may positively impact the Riskified Ltd (NYSE: RSKD) stocks; therefore, we focus on the company's stock chart today.
On the D1 timeframe, support has formed at 3.57, with resistance at 4.30. These levels are determined based on the price's highs and lows during the latest downward trend.
The support at 3.57 is strong since the quotes have not approached it for over a year. If the descending trend continues, a "false" breakout will likely form from this level, followed by a trend change.
On the H1 timeframe, if quotes return to 3.57, the next target for the price increase can be around 4.30. In this case, a rebound from support on D1 is expected.
In the medium term, the price can reach the target at 6.73. This level has served as resistance since the end of February 2023.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.