$RIVN: Long & movement into Phase C
Updated
RIVN I would treat all EV stocks at the moment with a degree of caution as theres been plenty of recent microeconomic movements between companies.
From a technical aspect, we had just experience a leg down into Phase A and currently accumulation for institutional buyers are taking place. Think of you at a Supermarket buying food at bulk price. Over the last 2 weeks, Volume has picked up three fold and buyer's momentum is shifting and coming in.
ST SOW was clear, (Secondary Test: Signs of Weakness) where we broke support and rapidly bounced right back. So currently in Phase B we are awaiting a long to higher highs around Phase A AR/UT before heading back low to a potential spring across the creek. Looking forward. Have set my limits into areas just above green OBs so we are looking very ready and with good indicators in place.
Will be picking up the stock for Long term when it clears the ST SOW levels so for long term holders, I believe we can hold out slightly longer.
Order cancelled
Unfortunate that we have likely missed the entry! Oh well. We move!Note
SOME REALLY PITIFUL SHIT!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.