RIOT was (yesterday a.m.) & is still today trading in what I call “no man’s land”, which is when a stock is trading smack between any decent support and resistance levels. While I still think RIOT will likely hit the 2 price targets that I recently laid out, I’m not a big fan of taking a position on a stock in no man’s land, especially a starter position (vs. adding to an existing position that already has embedded gains).
My reasoning is two-fold: First, when I short a stock on a breakdown below support (or go long on a breakout above resistance), I can place a tactical stop somewhat above (below) that support (resistance) level, as the stock should remain below it, otherwise the breakout has failed. The other consideration is that the odds for a counter-trend bounce (or pullback) are higher at that point, as is the case with RIOT as this time.
If you do short it here, consider a stop with an attractive R/R such as 3:1 based on how far it is to your price target(s).

Agreed. Lots of upside potential on RKDA if/when that trendline is clearly in the rear-view mirror.