You Could Get Stuck Here — $RIVER Overbought Correction
After a massive run to $86, reality is setting in. The daily chart structure is broken, and buying now is essentially gambling against market gravity.
Technical Analysis:
The Daily chart for RIVER shows a classic "Pump and Dump" retracement. The price is far below the Daily MA(7) of 57.61, showing how fast the momentum shifted. The chart displays a sequence of lower highs and lower lows. Until we see a daily candle close green above the previous day's high, the trend remains strictly bearish. The gap between current price (37.9) and the moving averages suggests we might have sideways movement before any real recovery.
Trade Setup (Wait):
Action: NO TRADE or Sell Rallies.
Observation: Watch for a daily close above 45.00 to change bias.
Warning: If 36.50 breaks, 30.00 is next.
Final Decision:
BEARISH / AVOID. Better opportunities exist elsewhere (like ENS).
Confidence Level:
Medium
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