RiotLet’s see if it can hold above 42.10 area as new support !!! So far tapping 200 ema at 42.90 area
RIOT trade ideas
RiotSo a while back we were very bullish on riot being in a very bullish consolation. With the massive rejection at 62 getrinf stopped out of positions I had a new ide that it could turn into a descending traingle which is bearish although can still break bullish. After the wick to the bottom side shaking many people out, it could be flagging here making its may to retest descending resiatnce. It’s catching resiatnce on the 4hr 20 ema. The top of flag resistance is 42.15 if we can confirm support above here we could have a good move up. 47.12 would be breakout of triangle in my opinion so if you’d rather wait for that don’t blame ypou. I
RIOT - GETTING READY FOR A RALLYRIOT has been beaten down pretty bad and had a pullback as far as 33.30 area which was a -58% pullback! There's a major support at the 34.20 level which would've been a perfect entry but I think there's more room for this to move. We are also forming a ttm squeeze on the 4hr and it looks like it's setting up the same way it did when it had a pullback back in March 9th. It's hard to time a perfect entry but I think this is a good starter position in this level having that we've identified a good support level which can identify the risk and I've set targets for taking profit.
A couple catalyst to watch out for:
- April 28th-29th: Pres. Biden + Fed Chair. Powell speaking regarding the fed reserve policy as well as a follow up to the capital gain tax.
- May 17th: ER
Contract Suggestions:
RIOT 5/21 55C @ 1.57
or
RIOT 5/21 60C @ 1.07
Average down areas:
- $39 (gap fill area)
- $34 (major support)
Stop loss: Below 33.50
NASDAQ:RIOT
How to buy high and sell higher (applies to many stocks)After I started understanding and recognizing this pattern it has helped me to change my "buy low sell high" logic many of us have embedded into our habits. Buy low sell high is great but what about when we miss the initial move(s) ?? I have come to find that that does not always mean you are necessarily "missing out" ..
First of all, there should be a catalyst when see these big moves up in stocks and that's smart to identify. RIOT has had a catalyst in the form of it's margins and earnings growth as a result of bitcoin's rising value and as a result has entered a period of exponential growth. In my opinion, the best time to buy after a big move up like this is NOT the dip.
This is because if we are buying the initial dip going into staging area, we then have no confirmation of uptrend continuation (it is entirely possible for stock to plummet into distribution). It's also because after a dip there is going to be lots of buyers who entered at the prior high, many of which are trading with no game plan that will be watching their losses increase ready and happy to get out as soon as their losing position is at or near a break even price.
Many of these "dumb money" buyers who entered at the top will sell at/near their cost as the stock recovers from the dip and thus provide overhead supply which will push the price back down. Not to mention there will also be the buyers of the dip who may also be selling then too . The process will probably repeat multiple times before the next move up too , but with smaller moves up and down . Also , at some point the catalyst that is helping the stock move up will subside and the stock will eventually enter a distribution cycle .
To summarize , in my opinion, the best time to buy this kind of event is at the end of the basing periods just as the stock gives us a confirmation of uptrend by moving up with volume . Notice the volume reduces throughout this staging/basing period as the supply reduces and the weak holders are reduced . The volume is not always as evident as this particular chart and sometimes there will be more moves up and down as the stock contracts but as you may agree , the goal is not to buy low and sell high with this pattern .
It is to buy high and sell higher.
You can of-course buy the dip but at that point you don't have a confirmation that the stock wants to keep going up so you are reducing your possibility of success. In any case , don't omit your stop loss and respect a healthy risk/reward ratio .
To be clear , this is not just for RIOT, this is an entry method that can apply to many stocks ....
Good luck ~
RIOT - Bull PennantStill waiting for breakout... 😉
When RIOT does launch target is BLUE trend line.
Will Bitcoin finish downtrend over the weekend?
Good Luck
$RIOT warming up to shoot for new highsThe 2-month triangle could be in its final wave (e).
We don´t trade pure wave counts, so we´ll wait for some type of bullish price action (a decent break of the triangle) to get into a trade.
Breaking of 39.52 invalidates this count.
RIOT - cleared 1 descending trendline, 1 more to goRIOT broke out above this ugly trend line all crypto miners and BTC have been in these last few days.
Look for resistance at the next descending trendline.
Once that is broken, RIOT should have clear sky for BLUE upper trend line.
BTC has a large contribution to provide.
Fact check: please check all my Riot analysis..!I believe I did the best possible job in technical analysis in this stock!
if you don't believe check these..!
Do you think this level of accuracy is achieved by luck?
RIOT BounceRIOT has fallen to from the top of the descending triangle range to the bottom where it met support at 37. It is oversold on stochastics and the last time it was at that level on stochastics it bounced at the 37 level. I believe this will be a quick pop back up where it may meet moving average resistance around 45. Riot is still in a consolidation range and has reached the bottom of that range.
Riot BlockchainSomebody call batman? I see a triple bat lol
What do you think?
Like Follow Agree Disagree!
Riot bullish caseRiot is trying to break the downtrend and regain the uptrend. If it can hold above $39 and regain the uptrend then this one could be at the bottom here
RIOT getting to point which it needs to choose a directiona lot of people say short but still it holds uptrend and it made already a nice pull back. it could now shift to a nice Bounce
I’m long hereAt the end of the line with this descending triangle, shows to be oversold, so this shows that it will likely breakout again.
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Bullish RSI Divergence on RIOT1) Riot keeps making higher lows while its RSI is making lower lows. This is a so called "hidden continuation divergence".
2) Riot is forming a wedge pattern that will break either up or down.
A) That said, last I checked there was a strong bearish RSI divergence forming on BTC, and since RIOT is a proxy play for ppo who cant trade BTC derivatives, any RSI signal will be drowned out by a general crash in the crypto markets.
Opening: RIOT May 21st 25/30 Short Put Vertical... for a .91 credit.
Notes: With 30-day at 151% and the short put strike some $15 below where the underlying is currently trading camped out at the 12 delta strike, what could go wrong? With earnings in 24, will probably look to take it off before those ... .
