Strange formation of triangle at support/resistance line All meeting for today's trading RSI sideways at 50 Simon says: the price will go up My target is $40 two weeks from now, mirroring the last 10 trading days
Should rebound from profit taking, could open up into a good squeeze on the shorts.
wave a. Expect wave c of 4 to drop down to 20 to form wave 4 flat. Wave 5 at extension of 1.618 should take RIOT to $75
Bouncing here on this trendline after correcting. Bought a tiny position. Ultra risky, I don't think the crypto correction is over by a long shot.
Done? Option 1 says it is not done. FB between wave (iii) Red and (ii) Red gives a (v) Red of $57.90. Option 2 assumes wave 3 is done at today's top of $45.99. Opt 1 and 2 assumes a 0.618 FB Retracement for wave 4 (Blue). Option 3 for wave 4 (Blue)assumes filling of the lowest gap with a FB Retracement of 0.77
So, this is not a good investment, its a trade. :D good luck Read my comments, status and the box.
See the setup for a bullish scenario with pullbacks possible to cover previous gaps up, creating buying opportunities. Often times the gaps in price action will have a tendency to be covered by future price action. These areas act as support and resistance and magnets for price action to retrace and afterward continue the underlying trend.
Look for the early sell-off and wait for consolidation with volume to confirm a move. A Few Factors to Consider - overbought RSI - low volume support end of day - Price sitting right under HVN - Well above VWAP and Weekly VWAP If stock pushes past 22.05, prepare for massive sell-off wih a resurge. As always, use volume to confirm a push to the up or downside...
Chart looks pretty bad here. Loot it up elsewhere for a better idea on how it looks. The dynamic resistance is actually closer to the price. I do not recommend to hold that position for too long. NASDAQ : RIOT