Rivian is trading in a dangerous zone - be patient
Updated
Hello,
Although Rivian, since it deals with electric cars, is obviously a highly speculative paper. (Since everyone is looking for the next Tesla right now.) If you're thinking about buying Rivian stock, keep in mind that the red zone is a neutral level.
The exchange rate moves in exactly one area, where it can move up and down by 10-20%. So it is not worth taking a position here in any way. Because it would be suicide.
All important things are visible on the graph. Below the red zone, the $13 level could be a good buy zone. Above the red zone, the $38 price target looks realistic.
Do not forget. This does not constitute investment advice. Do your own research before entering a position.
Regards
In extreme cases, we can count on new lows. But this would be triggered by very negative news that directly affects the company or the EV sector.
Although Rivian, since it deals with electric cars, is obviously a highly speculative paper. (Since everyone is looking for the next Tesla right now.) If you're thinking about buying Rivian stock, keep in mind that the red zone is a neutral level.
The exchange rate moves in exactly one area, where it can move up and down by 10-20%. So it is not worth taking a position here in any way. Because it would be suicide.
All important things are visible on the graph. Below the red zone, the $13 level could be a good buy zone. Above the red zone, the $38 price target looks realistic.
Do not forget. This does not constitute investment advice. Do your own research before entering a position.
Regards
In extreme cases, we can count on new lows. But this would be triggered by very negative news that directly affects the company or the EV sector.
Note
We are slowly reaching the weak support zone around $19.9. More risk-taking traders can try a long position here. Given that an important moving average can provide support here. I would not open large positions even if you are an investor, because the price can be even more favorable. If the support ends, the price could drop to $13. I haven't looked at the corporate reports at this point and I'm not up to date with the EV sector. Therefore, this is not investment advice and you should do your own research before opening a position.I am glad that I told my fellow traders and investors to be patient, since the exchange rate has fallen by more than 10% since I shared my idea.
Note
I do not follow the economic indicators of the Rivian company. But based on the graph, technically I dare to say that at $12-13 you can find support in the short term and offer a good entry opportunity if someone wants to invest in the company in the long term. As long as this exchange rate does not reach, I would wait patiently. Because it is better to miss out on a small profit than to lose money when there is a very high chance.And currently, there is a higher chance that the price has targeted the ~$12 and ~$13 range. Be patient. Don't rush your decisions.
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