$RIVN Getting ready for a HTF move to $15-$16
Global liquidity is trending down
Bearish RSI divergence on AMEX:SPY and NASDAQ:QQQ
NASDAQ:RIVN like practically all EV stocks and Tech stocks are over-extended from MA's
Daily TD 8 Count
$27.16 may have been the HOY. If not, I'm expecting for big money to push price up to $28 before we see a steep pullback or reversal. NASDAQ:RIVN has not tested the daily 50, 100, or 200 in a long time. The daily 9-EMA has been holding every test recently. Will look for break of the daily 9-EMA for confirmation.
I've dabbled in options. Might look for some December puts and short an equity position for intraday moves.
Remember, we want to lose on the idea, not the execution. Make sure to look for entries near levels you can risk against.
Good luck!
RIVN trade ideas
Rivian Projected price target +50NASDAQ:RIVN is poised to see robust SUV sales. It's undeniably the most sought-after SUV in today's market, distinguished by its striking aesthetics akin to a Range Rover, coupled with cutting-edge technology. When it comes to software, it ranks second only to @Tesla. Crucially for @Rivian, it doesn't directly compete with NASDAQ:TSLA 's #cybertruck and boasts a more profitable production model than the R1T.
The chart analysis is straightforward, and it appears that the price has already found support at the bottom.
Rivian Stock IdeaRivian is currently in a bull trend I believe. I like seeing the last few months of bullish momentum and I am excited to see what the fall might bring for this stock. In the video, I discuss some key important things to pay attention in terms of public news shared by the company's CEO
RIVN weekly breakdownRIVN settled this week after a much awaited sell off from the local top put in during the last tech bull run. Stochastic has turned over signaling a retreat from being oversold. Indicators are pointing to RIVN having more downside to fill in the gaps created on the last bull run. Id like to see a retest of this weeks high before grabbing puts, but any breakdown from this weeks low and we will see the gaps get filled.
Bullish For Potential Short Term UpsideAfter good earnings last week and a small consolidation, reaching $20.22 low today and maintaining above the 100 EMA, I decided to go long for a swing.
My position is at $20.86, looking bullish for a 10% upside while potentially reaching to the 50 EMA, 200 EMA, and 20 EMA.
Another potential upside is to go even higher to 28%, reaching the higher resistance level. Though I don't feel too comfortable about it as there is no strong enough support and resistance area above the 10% upside area I'm looking for. If you feel different and found something else I'd love to learn and discuss it.
I have a stop loss at $18.93. Will update you further on the outcome.
Fibonacci Trading And Price Action RIVNEstablish a Fibonacci price cluster with important resistance.
Set up price clusters for a clear buy, stop loss, take profit point. I will add Fibonacci timing to see the possibility at which point the price could touch the set point.
You should enter an order with a suitable volume for your account, and leave your stop loss at least the breakeven point.
RIVN Rivian AutomotiveIn July, there was a strong demand for the stock, which led to a period of consolidation. Following this consolidation phase, there was a breakout above the level of 27. This breakout indicates a potential continuation of the upward movement and may suggest further buying interest in the stock.
SL 22.5
tp1 31.5 tp2 39.5
Rivian Update: Ending Diagonal I decided to check back in on Rivian today and see what progress we had made to form a top. It appears to me it is ending in a diagonal. If this line of thinking is correct, then I would expect the end of wave ((5)) to hit somewhere between $28-$30 or so. After this it would have a very steep decline that usually ends where it began...@ $23. If you don't have a stop limit set, I would strongly advise you create one. When that A wave pops, it will catch many off guard and leave little time to react.
I have alerts set and will be watching for it to top soon. Once the decline starts, I will begin to track it again. Until then, good luck everyone.
Bonam Fortunam,
--Tyler
Oh Rivy is it time to fill your gaps so for the past 5 days, she couldn't hang outside the box, forming a nice wedge. I will ride NASDAQ:RIVN down to 24 and wait if price consolidate and if there are no buyer then all the way at the bottom of the box. Hopefully this week we touch one gap but market is not about your opinion sometimes, price action tells the story.
Consolidation in wave 4.Wave 4's purpose is to correct and consolidate the price movement from Wave 3 before the trend resumes with Wave 5. Traders and analysts use Elliott Wave Theory to try to anticipate potential price levels for the end of Wave 4 and the subsequent start of Wave 5, but it's important to note that Elliott Wave analysis can be subjective and open to interpretation
Alt count provided
RIVN Rivian Automotive Options Ahead of EarningsIf you haven`t sold RIVN on the recalls:
Or last time ahead of earnings:
Then Analyzing the options chain and the chart patterns of UPWK Upwork prior to the earnings report this week,
I would consider purchasing the 10usd strike price Calls with
an expiration date of 2024-1-19,
for a premium of approximately $1.92.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
RIVIAN to $30 or $15?RIVN we can have 2 scenarios with. The count I have drawn is bullish and that we are going to be pushing higher if W4 has ended, which technically it could be over with since we hit the 0.236 and pushed higher off of it. Even if we push lower to the 0.382 or even the 0.5 level that can still be a W4 correction from W3. As of now, I am going to stick with that the W4 we are in right now and trying to push to W5 higher.
If we fall from here then this count would be an ABC correction and we will continue to make new lower lows as the overall trend is still down.
$RIVN NASDAQ:RIVN - On Thursday, July 20, 2023, Rivian Automotive experienced a 3.95% increase in its stock price, rising from $24.83 to $25.81. This marked the third consecutive day of gains for the stock, and investors are eagerly watching to see if the upward momentum will continue or if there might be a minor pause in the coming days. Throughout the trading day, the stock's price fluctuated significantly, ranging from a low of $23.85 to a high of $26.14, indicating substantial market activity.
Over the last 10 days, the stock has seen increases in 6 of them, resulting in an overall gain of 19.38% over the past two weeks. The trading volume also saw a notable increase on the last day, alongside the rising price, which is considered a positive technical sign. Approximately 25 million more shares were traded compared to the previous day, with a total of 79 million shares exchanged, amounting to approximately $2.04 billion in transactions.
Currently, the stock is situated in the upper part of a very wide and strong rising trend in the short term, presenting a potential selling opportunity for short-term traders, as a reaction back towards the lower part of the trend might be anticipated. A break above the top trend line at $27.07 would indicate an even stronger rate of ascent.
Based on the current short-term trend, the stock is projected to rise by 76.81% over the next three months, with a 90% probability of holding a price between $29.57 and $47.86 at the end of this three-month period.
In terms of technical analysis, the Rivian Automotive stock holds buy signals from both short and long-term Moving Averages, signaling a positive forecast. Additionally, the relationship between the two signals, with the short-term average above the long-term average, further supports a buy signal. On potential corrections downward, there may be support from the lines at $25.08 and $18.10. However, a breakdown below any of these levels would issue sell signals.
Furthermore, there is a buy signal from the 3-month Moving Average Convergence Divergence (MACD), and the rising volume along with the price is considered a good technical signal. However, some negative signals were also issued, which could have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, July 12, 2023, resulting in a decline of -0.386% thus far. Further fall is indicated until a new bottom pivot is found.
As with any investment decision, it's essential for investors to conduct thorough research and analysis before making any financial moves. While the recent performance of the stock appears positive, it's crucial to assess the company's fundamentals and market conditions before making any investment choices.