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RIOT PLATFORMS INCRIOT PLATFORMS INCRIOT PLATFORMS INC

RIOT PLATFORMS INC

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RIOT trade ideas

$RIOT Awaiting A Major CatalystThe Bitcoin mining leader Riot Platforms, Inc. (NASDAQ: RIOT), is, to no one’s surprise, deeply tied to Bitcoin prices, which have seen a 65% increase YTD. With the government forecast to run out of money as early as June 1, talks about a debt ceiling deal to be finalized by next week started arising. The general sentiment at the moment is that a deal will be made before June after positive talks between President Joe Biden and House Speaker Kevin McCarthy. That would pave the way for Bitcoin’s value to increase as it is a risky asset, and risky assets’ value is deeply tied to macro stability, which in turn will see the RIOT stock price increase. RIOT Fundamentals As of right now, the US is navigating the uncertainty of the debt ceiling as the deadline gets closer and closer and the risk of defaulting increases. Defaulting would be catastrophic, not only for Bitcoin and RIOT but for the whole stock market and the US economy. The US government probably will not resort to defaulting because of the risks it poses for its economy. A deal was put forward to suspend the debt limit by $1.5 trillion or until March 31, 2024, in exchange for other demands like a spending cut for the next 10 years, it is expected that a deal will be reached before June regardless. This sentiment was made stronger after President Joe Biden and House Speaker Kevin McCarthy gathered Monday evening for one-on-one negotiations and offered strikingly optimistic takes on where things stand. If a debt ceiling deal were to be made, that would mean that the US has reached macro stability. In that case, the stock and cryptocurrency markets would see more of a bull market, which is all good news for RIOT. As a leader in Bitcoin mining, if Bitcoin saw an increase in value it is expected that RIOT stock would also increase alongside it. Bitcoin was already doing well this year in what a lot called a bear market, so it is expected to rise even more in case a deal has been reached. RIOT stock saw a 10% increase earlier this week and a 249% increase YTD despite RIOT recording disappointing Q1 2023 results. There is also a chance of a short squeeze happening as RIOT stock has a short interest rate of 15.92% and 34.85% of its free float on loan, while also having a 100% utilization rate. This can result in the RIOT stock price soaring as the short sellers are forced to cover their short positions. In Q1 2023, RIOT Produced 2,115 Bitcoin as compared to 1,405 Bitcoin during the same three-month period in 2022 and currently holds 7,094 Bitcoin which amounts to $202 million at the current Bitcoin trading price. RIOT is currently building a 1-gigawatt developed capacity facility in Texas to expand its Bitcoin mining and data center hosting capabilities. In that case, RIOT would increase its Bitcoin production by a huge margin once the facility becomes online. That would mark RIOT increasing its revenue exponentially especially if Bitcoin rallies after the debt ceiling deal. RIOT Financials In its Q1 2023 report, RIOT’s assets decreased 5% YoY from $1.319 billion to $1.250 billion, and its cash and cash equivalents decreased 31% YoY from $230 million to $158 million. RIOT’s total liabilities saw a slight increase of 6% YoY from $168 billion to $158 billion. Revenue also increased 8% YoY from $79 million to $73 million. Operating costs increased almost 225% from $40 million to $130 million, which contributed to operating loss increasing nearly 240% YoY from $39 million in operating income to $56 million in operating losses, which amounted to a net loss of $55 million – a 250% increase YoY. Technical Analysis RIOT stock’s trend is neutral with the stock trading in a sideways channel between $10.3 and $12. Looking at the indicators, the stock is trading above the 21, 50, and 200 MAs which are bullish indications. However, the RSI is overbought at 71 and the MACD is bullish. As for the fundamentals, RIOT’s main catalyst is the expected Bitcoin rally if a debt ceiling deal is reached. Despite the RSI being oversold, RIOT stock could continue performing well due to the positive expectations of reaching a debt ceiling deal. RIOT Forecast Bitcoin and in turn RIOT stock have increased 65% and 249% respectively YTD. If a debt ceiling deal were to be made and the U.S. reached macro stability both assets are expected to run. The next few days are important for RIOT stock as the talks continue to reach agreeable terms between both parties.
NASDAQ:RIOT
by Penny_Stocks_Today
RIOT: long until the channel breaksRIOT has hit a snag and has been consolidating as Bitcoin struggles to breakthrough 30K ceiling. With the current macroeconomic headwinds from debt ceiling clown show to fade rate circus it is not unexpected that BTC may fall back to 20 K support. If that happens, then RIOT will also take a hit and the current bull case might be in jeopardy. But I am still hopeful as the price action looks much more like a wave 4 correction than a big impulse to the downside. Until the channel breaks, I will stay long with $21 target. Will go short if the bull count is completely invalidated below $7.76. I don't short BTC but use RIOT and MSTR as a proxy to short crypto market.
NASDAQ:RIOTLong
by mukit1
Long RIOT #tradingtheapocalypseFundamentals: Riot Platforms, Inc is a Bitcoin mining company that survived the recent downturn in Bitcoin price, unlike some of its competitors. That's as much as I need to know. This trade is a leveraged bet on Bitcoin. Bitcoin recently completed a weekly Wyckoff accumulation pattern, which was confirmed by the break and hold above 26k. Technicals: Crypto equities seem to respect nothing in particular except the Bitcoin price, and the general stock market conditions. However, moving averages help. RIOT has closed above its 200-day Exponential Moving Average, and tested it as support, along with previous resistance, gapping up afterwards, showing demand. The trade is a long from here, with a stop below the recent low around $5. Ultimate target is the most recent peak the last time price was above the 200 EMA, but really the trade should be managed according to the state of the crypto market.
NASDAQ:RIOTLong
by SimpleCryptoLife
RIOT - 126-130$ top target for 2025In this analysis, we will delve into the significance of confluence in technical analysis, the implications of shareholder dilution, the role of Bitcoin mining, and the importance of the technical indicators used in our assessment of Riot Platforms, Inc (RIOT). Confluence in Technical Analysis Confluence is a crucial aspect of technical analysis, as it allows traders to identify critical price levels where multiple technical indicators align. This increases the probability of a successful trade, as it provides confirmation and reduces the likelihood of false signals. The confluence between the 1.382 Fibonacci speed resistance fan and the horizontal 1.618 Fibonacci extension level in RIOT's chart offers a compelling indication of a potential turning point. Shareholder Dilution Shareholder dilution occurs when a company issues additional shares, which results in a decrease in the ownership percentage of existing shareholders. This can negatively impact the stock's value and investor sentiment. Therefore, avoiding shareholder dilution is essential to maintain shareholder confidence and support the stock's price appreciation. Bitcoin Mining As a company primarily engaged in Bitcoin mining, RIOT's performance is closely linked to the cryptocurrency market. Continued growth in Bitcoin mining will likely support RIOT's revenue and contribute to its stock performance, especially during periods of heightened crypto market activity. Conversely, regulatory setbacks or a decline in mining activity could negatively impact RIOT's stock price. Technical Indicators Our analysis employs the convergence of the 1.382 Fibonacci speed resistance fan and the horizontal 1.618 Fibonacci extension level to determine potential price targets. These indicators have proven to be reliable in identifying key support and resistance levels in the past. By extrapolating the data from these indicators, we can project a potential price target of $126-$130 for RIOT. Conclusion In light of the confluence observed in RIOT's chart and the importance of avoiding shareholder dilution and sustaining Bitcoin mining operations, we recommend considering a long position in RIOT around November/December of this year. This strategy aims to capitalize on the anticipated cryptocurrency market euphoria and achieve a price target of $126-$130. However, it is crucial to monitor the company's performance and the regulatory landscape, as these factors may impact the stock's trajectory.
NASDAQ:RIOTLong
by TheTraderAndy
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