RIVER has been moving quite interestingly today. The current quote is 25.367, which is more than 5 points below the 24-hour high of 26.980. This rapid pullback after a spike looks suspicious. Even more concerning is that the trading volume didn't keep up during the rebound, which is called volume-price divergence—simply put, the bulls are losing momentum.
On the 15-minute chart, the 26 level can't be broken through, forming a double top. The 5-day moving average has also started to turn downward, pressing down on the price. The 26.005 level has become a clear resistance point, and a short-term correction signal is now solidly confirmed.
After the price broke below 26, it turned into a sideways downward trend, and the previous trap of false breakout has come to an end. If you still want to participate in this wave, my suggestion is to decisively short above 25.874, with a target of 24.512. This logic is quite clear from a technical perspective.
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RIVER has been moving quite interestingly today. The current quote is 25.367, which is more than 5 points below the 24-hour high of 26.980. This rapid pullback after a spike looks suspicious. Even more concerning is that the trading volume didn't keep up during the rebound, which is called volume-price divergence—simply put, the bulls are losing momentum.
On the 15-minute chart, the 26 level can't be broken through, forming a double top. The 5-day moving average has also started to turn downward, pressing down on the price. The 26.005 level has become a clear resistance point, and a short-term correction signal is now solidly confirmed.
After the price broke below 26, it turned into a sideways downward trend, and the previous trap of false breakout has come to an end. If you still want to participate in this wave, my suggestion is to decisively short above 25.874, with a target of 24.512. This logic is quite clear from a technical perspective.