Riot....

 Well, France is presently in riot for weeks now.

Nope, while I may be a little political bias at this moment, I am not talking about the riot in France.

My entry today is about riot Platform Inc. 

I have absolute no idea what this entity is about. It just popped up on the finance.yahoo.com list, as if trying to hint something to me. So I took a look, and it is interesting...and boring at the same time. Why?

Fig 1. Riot Platform Inc weekly chart

When you look at this chart, what do you see? 

I am seeing a round bottom or saucer bottom, with a handle already completed.

The last time I encountered this formation was on one counter during early 2000. It eventually shot upward aggressively.

How to predict the objective for this formation? 

I do not recall a measurement for this formation, the only thing I remember from my teacher was the width of horizontal congestion will result in equal length of vertical surge.

Using this principle, I can estimate possibility of Riot to reach above USD80. 

At the same time, it will also be useful to use the down trend to generate the possible retracements resisting the uptrend.

At present, it has reached the Bollinger envelop of 15.396. To be a little agressive, I will consider 38.2% retracement at 32.68 as the next level of resistance, follow by the 61.8% at 54.26.