Buy, Sell, or Hold Riot Platforms Stock?
The post Buy, Sell, or Hold Riot Platforms Stock? appeared on BitcoinEthereumNews.com. Riot Platforms stock price is facing strong bearish pressure on the daily technical charts, as it is trading below the 100 and 200-day EMA. The stock has failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by the buyers. The stock is currently trading near $9.42, with a marginal gain of 9.42% in the intraday session. The stock has a potential upside target of $20, but it needs to overcome the bearish momentum and surge above the 200-day EMA. The stock has a support level of $8.68, which could prevent further downside. Riot Platforms price Forecast suggests that the stock is in the firm grip of the bears and needs to show some signs of reversal before confirming a bullish trend. The technical indicators favor the sellers projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone whereas the major EMA lines are acting as barrier points for RIOT price. The company’s performance has been dismal throughout the year. It has suffered negative returns of % in the year-to-date period, % in the last six months, % in the last month, and % in the last week. This shows a persistent bearish trend that has not reversed yet. Technical Analysis of Riot Platforms Stock Price in 1-D Timeframe Source: Riot Platforms.1D.NASDAQ by TradingView Riot Platforms stock (NASDAQ: RIOT) is trading under the 50 and 200-day EMAs (Exponential moving averages), which are not upholding the price trend. The current value of RSI is 43.79 points. The 14 SMA is above the median line at 40.57 points, indicating that the Riot Platforms stock is bearish. The MACD line at -0.4659 and the signal line at -0.5875 are below the zero line. A bearish crossover…
The post Buy, Sell, or Hold Riot Platforms Stock? appeared on BitcoinEthereumNews.com.
Riot Platforms stock price is facing strong bearish pressure on the daily technical charts, as it is trading below the 100 and 200-day EMA. The stock has failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by the buyers. The stock is currently trading near $9.42, with a marginal gain of 9.42% in the intraday session. The stock has a potential upside target of $20, but it needs to overcome the bearish momentum and surge above the 200-day EMA. The stock has a support level of $8.68, which could prevent further downside. Riot Platforms price Forecast suggests that the stock is in the firm grip of the bears and needs to show some signs of reversal before confirming a bullish trend. The technical indicators favor the sellers projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone whereas the major EMA lines are acting as barrier points for RIOT price. The company’s performance has been dismal throughout the year. It has suffered negative returns of % in the year-to-date period, % in the last six months, % in the last month, and % in the last week. This shows a persistent bearish trend that has not reversed yet. Technical Analysis of Riot Platforms Stock Price in 1-D Timeframe Source: Riot Platforms.1D.NASDAQ by TradingView Riot Platforms stock (NASDAQ: RIOT) is trading under the 50 and 200-day EMAs (Exponential moving averages), which are not upholding the price trend. The current value of RSI is 43.79 points. The 14 SMA is above the median line at 40.57 points, indicating that the Riot Platforms stock is bearish. The MACD line at -0.4659 and the signal line at -0.5875 are below the zero line. A bearish crossover…
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