US Technical Analysis Report

Two NASDAQ-Listed Stocks Trading in Positive Territory Despite Russell 3000 Bearish Movement– RIOT, AAOI

Sep 29, 2023 12:00 AM EDT

Company Overview: Riot Platforms, Inc. (NASDAQ: RIOT) is a bitcoin mining company focused on supporting the bitcoin blockchain through large-scale mining in the United States. Applied Optoelectronics, Inc. (NASDAQ: AAOI) is a vertically integrated provider of fibre-optic networking products. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendations on these two stocks.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started marginally positively; however, it traded with a negative bias for the most part of the week. The index made a low of 2432.822 during the week and settled at 2468.537 with a week-to-date (WTD) loss of ~0.29 percent on September 28, 2023Other major indices, such as S&P 500 and NASDAQ Composite witnessed negative movement for the week. On September 28, 2023, the S&P 500 index settled at ~4299.69 with a WTD loss of ~0.47 percent, while the NASDAQ Composite Index settled at 13201.276 with a WTD loss of ~0.08 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 two NASDAQ-listed stocks to pick from the technical standpoint. Noted below recommendations are based on the entry price, target prices, and stop-loss for Riot Platforms, Inc. (NASDAQ: RIOT) and Applied Optoelectronics, Inc. (NASDAQ: AAOI) for the next 2-4 weeks duration: 

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