RY 173.53 0.0461% SHOP 159.5 1.56% TD 76.22 0.8068% ENB 60.09 0.0333% BN 82.79 0.988% TRI 234.13 -0.1706% CNQ 43.47 0.6949% CP 105.63 0.4756% CNR 148.07 0.5637% BMO 139.11 -0.2152% BNS 77.03 -0.0649% CSU 4547.4502 0.8243% CM 92.53 0.2383% MFC 44.05 0.0454% ATD 80.59 0.1989% NGT 54.92 0.1459% TRP 66.54 0.2561% SU 50.61 0.4765% WCN 248.6 1.1885% L 191.07 -0.4325%

US Technical Analysis Report

One NASDAQ– Listed Bitcoin Mining Stock Poised for Upside as Russell 3000 Edged Lower – RIOT

Jul 26, 2024

RIOT:NASDAQ
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (US$)

Company Overview: Riot Platforms, Inc. (NASDAQ: RIOT) is a Bitcoin mining and digital infrastructure company. The Company has Bitcoin mining operations in central Texas and Kentucky, and electrical switchgear engineering and fabrication operations in Denver, Colorado. It operates a Bitcoin-driven infrastructure platform. Its segments include Bitcoin Mining and Engineering. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a negative note and continued the momentum. The index made low of 3078.338 during the week and settled at 3085.662 with a week-to-date (WTD) loss of ~1.62 percent on Jul 25, 2024. Other major indices, such as S&P 500 and NASDAQ Composite displayed downside move for the week. On Jul 25, 2024, the S&P 500 index settled at 5399.22 with a WTD loss of ~1.92% percent, while the NASDAQ Composite Index settled at 17181.724 with a WTD loss of ~ 3.076 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one US-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Riot Platforms, Inc. (NASDAQ: RIOT) for the next 2-4 weeks duration: 

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