Breakout Imminent. Target: $80
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Greetings All,
RIOT has formed a bullish symmetrical triangle on the daily charts, indicating that it wants to retest resistance around $80 (by the end of May is my estimate). MACD is showing bullish divergence (Indicator forming lower lows, while price is forming higher lows). A break above the trend resistance with strong volume will confirm the breakout.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Exercise your own due diligence.
RIOT has formed a bullish symmetrical triangle on the daily charts, indicating that it wants to retest resistance around $80 (by the end of May is my estimate). MACD is showing bullish divergence (Indicator forming lower lows, while price is forming higher lows). A break above the trend resistance with strong volume will confirm the breakout.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Exercise your own due diligence.
Note
Breakout Confirmed!Note
Pullback to fill gap and 61% retracement appears healthy and bullish. Target remains.Note
RIOT broke to the downside. Thanks BTC 🙄. I'll update with a new idea....soon.
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