Rivian Bullish Historical Chart trend analysis
Updated
November of 2021 Rivian started trading on the New York Stock Exchange. With a price of $106.75, Rivian saw a high of $179.47. Since its all-time highs, it has seen a steady decline. Over the last two and a half years there has been one trend in which I have noticed that leaves me with the optimism of a very bullish move coming.
In observation of the historical price action, amidst the downtrend in price I have noticed that Rivian has its most bullish movement every year between the second and third quarter. Price action starts to bottom and reverses trend though July into august just after earnings where it tends to slow down. This cycle is not proven to be a consistently repetitive occurrence as there is limited data to confirm this pattern and/or trend to be true but, the evidence so far is strong.
The first occurrence from May 11, 2022 - Aug. 12, 2022, in which produced roughly a 110% increase in price from bottom to top. The second occurrence started a little earlier from APR. 25, 2023- JUL. 27,2023 in which produced roughly a 140% return. By doing simple math and taking the average of the two, I would predict roughly 125% return (give or take a few percentage points for unpredictability and human fallibility) between Apr. 18,2024 where this year's bottom was found and earnings Aug. 06,2024. Doing that calculations that would put us in the $18.50 and $23 range.
BUT WAIT THERE IS MORE!!!! I tend to track patterns with the help of exponential moving averages. To save the headache of explaining what moving average are, please do your due diligence. I like to use what I call macro averages. The 100 day and the 200-day moving average. You pay attention to the circles; you will notice the first wave on the daily chart rejects the 100-day moving average (blue). You will then see the second wave reject the 200-day moving average (White). The significance in this pattern is that we are steadily reaching a higher moving average as the moving averages come lower. Within the first wave, after breaking through the high of the 100-day moving average on the daily, it pushed 5% higher before retracing. On the second wave, after breaking the 200-day moving average it pushed 22% higher.
In this present 3rd wave, we have not made our full move and are already 9% higher than the 200-day moving average. We are above both the 100-day moving average and 200 day moving average which is significant pattern in my theory for and breakout for higher pricing. There is a lot more leg room to go and demand is steadily increasing. Volkswagen (VOW3) has recently invested 5 billion into the company as part of a project they are working on. These are all signs confirming bullish momentum. Like Share and comment your opinion I would love to know
In observation of the historical price action, amidst the downtrend in price I have noticed that Rivian has its most bullish movement every year between the second and third quarter. Price action starts to bottom and reverses trend though July into august just after earnings where it tends to slow down. This cycle is not proven to be a consistently repetitive occurrence as there is limited data to confirm this pattern and/or trend to be true but, the evidence so far is strong.
The first occurrence from May 11, 2022 - Aug. 12, 2022, in which produced roughly a 110% increase in price from bottom to top. The second occurrence started a little earlier from APR. 25, 2023- JUL. 27,2023 in which produced roughly a 140% return. By doing simple math and taking the average of the two, I would predict roughly 125% return (give or take a few percentage points for unpredictability and human fallibility) between Apr. 18,2024 where this year's bottom was found and earnings Aug. 06,2024. Doing that calculations that would put us in the $18.50 and $23 range.
BUT WAIT THERE IS MORE!!!! I tend to track patterns with the help of exponential moving averages. To save the headache of explaining what moving average are, please do your due diligence. I like to use what I call macro averages. The 100 day and the 200-day moving average. You pay attention to the circles; you will notice the first wave on the daily chart rejects the 100-day moving average (blue). You will then see the second wave reject the 200-day moving average (White). The significance in this pattern is that we are steadily reaching a higher moving average as the moving averages come lower. Within the first wave, after breaking through the high of the 100-day moving average on the daily, it pushed 5% higher before retracing. On the second wave, after breaking the 200-day moving average it pushed 22% higher.
In this present 3rd wave, we have not made our full move and are already 9% higher than the 200-day moving average. We are above both the 100-day moving average and 200 day moving average which is significant pattern in my theory for and breakout for higher pricing. There is a lot more leg room to go and demand is steadily increasing. Volkswagen (VOW3) has recently invested 5 billion into the company as part of a project they are working on. These are all signs confirming bullish momentum. Like Share and comment your opinion I would love to know
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First Profit target reached of 125% as expected.
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