With shares reclaiming key moving averages and bullish technical indicators gaining strength, momentum appears to be shifting decisively in favor of buyers. As the company expands its footprint in the booming AI data center market, a move above near-term resistance could open the door to another leg higher.

Take a look at the chart and the deal to see where it might face resistance.

Riot Platforms (RIOT) is gaining attention following a major expansion of its artificial intelligence infrastructure business. On November 4, the company announced a 15-year, $28 billion lease agreement covering its 910-megawatt Corsicana, Texas, data center campus. The agreement is expected to generate approximately $1.8 billion in average annual rent, bringing Riot’s total contracted data center revenue to roughly $38 billion. The announcement accompanied third-quarter results showing revenue of $181.4 million, including $18.4 million from its growing data center operations. Management also indicated that it does not currently anticipate issuing new equity to fund its announced projects. The developments represent a significant shift toward long-term AI infrastructure revenue, reducing Riot’s dependence on Bitcoin mining and providing a potentially powerful catalyst for continued investor interest.

RIOT’s technical picture is also improving following a sharp rebound from its October lows. Shares closed Tuesday at $18.08, above the 8-, 21-, and 55-day exponential moving averages. The PPO has completed a bullish crossover, with an expanding positive histogram indicating strengthening upward momentum. The ADX stands at 29.92, while the +DI at 33.03 has moved above the -DI at 27.57, suggesting buyers are beginning to gain control. The RSI at 59.39 leaves room for additional upside, and relative strength against the S&P 500 has improved considerably. Immediate resistance sits near $18.85, followed by $20.50. A sustained move above the first level could support further gains, although the stock’s recent rally and sensitivity to cryptocurrency prices warrant caution.

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