Riot Blockchain Stock Forecast
Weaker technical forecast for Riot Blockchain as stock downgraded to Strong Sell Candidate.
(Updated on May 02, 2024)
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -31.19% during the next 3 months and, with a 90% probability hold a price between $3.19 and $8.65 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RIOT Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Riot Blockchain stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $11.03 and $10.68. 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 -41.54%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Riot Blockchain stock
Riot Blockchain finds support from accumulated volume at $10.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.630 between high and low, or 6.42%. For the last week, the stock has had daily average volatility of 7.36%.
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 Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Riot Blockchain, Inc to open at $10.18, and during the day (based on 14 day Average True Range), to move between $9.39 and $11.21, which gives a possible trading interval of +/-$0.91 (+/-8.84%) up or down from last closing price. If Riot Blockchain, Inc takes out the full calculated possible swing range there will be an estimated 17.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.11 (1.84%) than the resistance at $11.24 (9.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.044 Strong Sell Candidate Downgraded
Predicted Opening Price for Riot Blockchain, Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $10.18 ( 1.13%) | $10.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RIOT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.81 | 4.98 % | |
| R2 | 10.57 | 2.65 % | ||
| R1 | 10.42 | 1.20 % | ||
| Current price: | 10.30 | |||
| Support | S1 | 9.94 | -3.47 % | |
| S2 | 9.79 | -4.91 % | ||
| S3 | 9.55 | -7.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.88 | 15.34 % | |
| R2 | 11.85 | 15.05 % | ||
| R1 | 11.24 | 9.13 % | ||
| Current price | 10.30 | |||
| Support | S1 | 10.11 | -1.84% | |
| S2 | 9.82 | -4.66% | ||
| S3 | 9.13 | -11.36% |
RIOT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 03, 2017 | Oct 12, 2017 | Oct 18, 2017 | $1.00 | 13.04% |
FAQ
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