Riot Platforms, Inc. to $1000 / 100x

On the above 8-day chart price action has corrected 95% from $80 in early 2021. A number of reasons now exist to be consider a long position. They include:

1) Price action and RSI resistance breakouts.

2) Price action confirms trend reversal. Higher highs higher lows.

3) Price action confirms support on past resistance. (Green bar).

4) The inverse head & shoulders, you see it?

5) No share splits. True.

6) The bull flag pattern is used to forecast the projection as it was done twice before. Target area is $1000 per share.

Ww

Type: trade
Risk: <=6%
Timeframe for long: Quarter 1 2024
Stop loss: Will say elsewhere

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GRM support confirmed.

ノート

Past resistance confirms support.

ノート

Had some messages today about the short position opened by Kerrisdale Capital. It appears a number of folks sold on the news.

June 2024, Kerrisdale Capital "We are short shares of Riot Platforms,"
Short interest on RIOT is currently 19%

Who are Kerrisdale capital?
They've got a website and everything they must be good...

March 2024, Kerrisdale Capital "We are short shares of MicroStrategy"
Price action rockets 170% after short position, OUCH!!!

February 2024 "We are short shares of Altimmune Inc"
Down 17% so far.
Does someone in KC know what this pattern is?
Do you know what this pattern is? Answers below!

October 2023 "We are short shares of Joby Aviation"
They've paid to borrow shares on a short position for 7 months now with no gain.

This next one is insane.

June 2023 "We are short shares of Carvana Co. (CVNA)"
Price action is up 1400% since they went short. OUCH!

Dear market participants, please do not give attention to KC. There is a reason this business is losing money, it is public record.

Since 2021 they have seen their portfolio value drop 80% from 1400 billion to 318 billion and has remained flat since 2023 as the greatest bull market in 40 years got underway.

Source:
fintel.io/i/kerrisdale-advisers-llc

The real news will always be in the charts. Be your own investor, learn to study charts and your confident decisions will follow.

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