RIVN falls to fair value for swing LONG
Updated
RIVN is here on a 30 minute chart with VWAP bands and a dual time frame RSI added. Price
fell from the top of the trend up after the last earnings. It is now between the mean
anchored VWAP and the first lower VWAP line which is where the reversal occurred on May 8th.
I will look for an entry long on a lower time frame chart. I am looking for a 1.75 move up
toward the second upper VWAP line in this trade while risking 0.25 making the reward for
the risk taken about 7.
fell from the top of the trend up after the last earnings. It is now between the mean
anchored VWAP and the first lower VWAP line which is where the reversal occurred on May 8th.
I will look for an entry long on a lower time frame chart. I am looking for a 1.75 move up
toward the second upper VWAP line in this trade while risking 0.25 making the reward for
the risk taken about 7.
Trade active
My trade got off to a great start. STop loss raised above brek-even. The trade is now risk and stress free.Note
Note
Wide View Chart Trade active
Finally after a month of sideways consolidation a news catalyst of VW's investment rich uncle maneuver pushed price markedly higher. 80% of the position closed to
capture ralied profit will watch for bearish mementum with the shorts stepping in. May go short if price cannot stay above 15.
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