Riot Blockchain Stock Forecast

A very red day for Riot Blockchain stock price after a -5.82% fall in the Monday trading session
(Updated on Apr 15, 2024)

RIOT Signals & Forecast

There are few to no technical positive signals at the moment. The Riot Blockchain stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $9.65 and $11.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 14, 2024, and so far it has fallen -51.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Riot Blockchain stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.710 between high and low, or 8.35%. For the last week, the stock has had daily average volatility of 5.73%.

Riot Blockchain is oversold on RSI14 (5). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RIOT) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Riot Blockchain, Inc to open at $8.76, and during the day (based on 14 day Average True Range), to move between $7.74 and $9.40, which gives a possible trading interval of +/-$0.83 (+/-9.67%) up or down from last closing price. If Riot Blockchain, Inc takes out the full calculated possible swing range there will be an estimated 19.33% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $10.29, some $1.72 (20.07%) from the current price of $8.57, our system finds the risk reward not very attractive.

Is Riot Blockchain, Inc stock A Buy?

Riot Blockchain holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -7.396 Strong Sell Candidate Unchanged

Predicted Opening Price for Riot Blockchain, Inc of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.