What do you think about riot block chain
The stock went down 10% two days ago and 4% yesterday, after missing the q3 expectations by a lot, will the stock go up in the next few days because people might start buying in because the stock is cheap right now or do will the stock go down more because many people won’t think that the stock will go up again.
Unfortunately nobody knows where the stock price will go in the short period. I’ve seen companies with good earnings drop in price and viceversa.
If the fundamentals are good and you trully belive in the company X, Y, Z and you are an investor aka with long time horizont min 5-10 years. This doesn’t matter, on the contrary every dip it’s a buy opportunity.
If you are a trader you need to look at your technical indicators.
It looks like I need a extra job if the riot blockchaine goes down more, it really ate through my cfd account. Hope it goes up soon or else I might be screwed
if you are already saying that, it’s probably too late for that position.
I used to have RIOT but I sold it before they did the share offering, and it seems the right decision as the stock tanking thereafter and only did slow recovery. It might be due people trust they might do that again in the future.
Bitcoin mining such as MARA, RIOT BTBT, BTIF, HUT, GREE etc are highly affected by the Bitcoin performance. I keep holding another Bitcoin mining MARA though for a long time holding.
To me I will re-enter RIOT again on the price I believe is right. The graph below currently showing the people star selling their stock, probababy taking profit from previous run. The stock price start dropiing due to earning, the MACD start showing the dead cross but it has not been confirmed by RSI. RSI has not been in the oversold territory.
MY PLAN I will strike when RSI has gone below 30 or the next resitance level which is around $26. or do nibbling when the price starts turning around.
