RILY Update - Breakout Still Imminent! Buyers ARE in control!
Keep an eye out for a break of this magenta strong selling channel - this will be our initial indication of a retest of the top of teal tapered and that is where, if yellow and purple channels are holding price, we can see a large breakout.
Until then, there is a massive short float on this stock so we'll likely need to wait for the teal and magenta wedge for this to happen.
As always I will keep you posted with further updates as we move forward
Happy Trading :)
Until then, there is a massive short float on this stock so we'll likely need to wait for the teal and magenta wedge for this to happen.
As always I will keep you posted with further updates as we move forward
Happy Trading :)
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