TopOptionAlert
Oct 19, 11:27 PM
$RIOT NOV20 14.5C · still actionable
Zone:
$13.87 to
$14.07
Invalidation: close under
$13.58
Objectives:
$15.19, then
$16.17
The math: up 8.7% to the first objective and 15.7% to the second, against 2.8% risk on the invalidation, better than 5 to 1 to the second
Dear friend, think of this swing setup like a good truck that slid down a steep hill all month and finally found flat ground at the bottom. Riot fell about 17 percent in five sessions and about 41 percent in a month, yet today buyers held the
$13.88 low above the
$13.58 low from Friday and closed price at
$13.97, up 1.8 percent. What that means is simple. The selling looks tired down here, the floor sits close under us, and if that floor keeps holding, price has room back toward
$15.19 first and
$16.17 next, while a close under
$13.58 would say the floor gave way and you step aside, plain and simple.
P.S. Watch
$14.37 on Tuesday. It was the high today, and a close over it would show buyers pushing, not just defending the low.
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