Atma, I always say anything can happen in trading and one should...

Atma, I always say anything can happen in trading and one should continually review positions and adjust accordingly.

But if you say that RIV, as it technically stands now, is more likely to pull back rather than move forward, and then back to the 61% mark where $8 sits, well my hat goes off to you as this will be a fantastic call. But right now I see this as a very low probability outcome.

I see your only chance is:

1) if RIV fails to hold above $11ish support and falls back within the range. I see this as unlikely given the strength of the chart
2) but if 1) fails then RIV would have to then test the uptrend line at mid $9s and fall through this key support too. If 1) was unlikely then I see 2) happening as very unlikely given RIV's last major cap raising was done at $9.30. If anything RIV could also launch north from this position too
3) but if 2) somehow fails too only then could I see RIV dawdle around in no man's land between $8 and mid $9s. This is where I could see it may touch $8 but it probably will bounce off that too given fib retracement at 61% is key support too

Until the above happens I continue to have a long view on RIV, drawing a line in the sand where it is now at $11ish, before moving forward towards first target at $16ish. Then I'll see what it will do from there.

Good luck if you are still short - its not what I'd be doing but that's me.