RIVN Reversal RIVN is oversold!
Last 5 days the price action is to the Down side. Last 5 days the RSI and MACD are trending UP.
Might be 10-15% of upside before another drop.
RIVN trade ideas
RIVN 1WRivian Automotive, Inc. engages in the design, development, and manufacture of category-defining electric vehicles and accessories. The company was founded by Robert J. Scaringe in June 2009 and is headquartered in Irvine, CA.
Poised for a bounceI believe Rivian is poised to bounce with the market. Target for this retrace is around $24.
I bought an extra 50 shares @$21.38. These are just to good of prices to give up, it is a great spot to load up on some more Rivian for sure!
RIVN 01/20 25Ptsla and lcid, both make lows, auto industry is vulnerable during a recession. RIVN has attempts 30 levels for multiple times, i bet it will break down finally. It developed a reversed cup handle pattern on weekly chart. I took put on 11/25 around 30. However, powell speech is bullish then the price pops up to 32.75. Not a good sign
RIVN crawling downRIVN seems to in a corrective wave down, possibly a wave C of a double three. Could revisit prior lows for support. Am looking here to see if it breaks this level or bounces off.
RIVNRIVN has been on this downtrend for sometime and is nearing all time lows soon. I still need to chart pre market High/low for monday but as of now this would be the plan.
If RIVN drops below YL( Yesterdays Low) then I would want to see a candle close below it. maybe drop to 2.25 then a rest of it with sellers in control to confirm a move to the downside. I would have my stop loss 22.74.
If bulls are in control and we are done dropping then I would like to see it test first 22.74 then YH (Yesterday's High) of 23.87.
If we can break 23.87 then my first zone to take profit would be 24.46. keeping stop loss close probably around 23.55.
RIVN | It's Finally Oversold | LONGRivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets. Rivian Automotive, Inc. was founded in 2009 and is based in San Jose, California.
RIVN Rivian Recalls Its Vehicles Due to Loose FastenersRivian Recalls its Vehicles Due to Loose Fasteners improperly that could cause excess wheel tilt and a potential loss of steering control.
Buying a car from a new producer that doesn`t have experience in the market like the traditional ones, comes with a lot of risk involved, like the one mentioned above. I haven`t heard F Ford Motor Company, of which i`m bullish btw, to have such issues.
I expect a retracement to at least $26.50.
Looking forward to read your opinion about it.
The Final Stretch....For Now?Rivian looks as if it is in its C wave of wave 2. Since the high of $32.60 it has been on a pretty direct path lower and appears poised to hit the 1.618 line of what I'm calling wave 1 of C. From there it should have a little bounce for wave 4 and then back down for OML for our wave 5 of C of 2. The 0.884 fib line should hopefully hold any further decline. The all time low of $19.26 is our invalidating point. I will be watching all day tomorrow and will update if anything crazy happens. Feel free to send me any questions and I'll answer best I can.
As we start our wave 5 down I will be slowly adding to my LONG term position. I will post any buys on here in another post.
💰💰Good luck to all💰💰
--Tyler
Update tonightSorry I haven't posted in a while. It's been a crazy couple weeks. I will post tonight with more details but suffice to say, today looked like a wave 3 of c...if that is the case we're almost bottomed. Later I will be able to actually sit down and analyze today.
💰💰Good luck to all💰💰
--Tyler
'Jade Dragon' Trade Idea for a 1/13/23 Expiration'Jade Dragon' trade idea for 1/13/23 expiration.
Short put + call credit spread, such that the premium from the put sold covers the max loss of the call spread, hence no risk to upside.
$166 credit with price between $25 and $31.
$66 credit with price above $32 (once call spread is closed for $100 debit).
Assignment to buy 100 shares @ $25 per share if share price is below $25 on expiration. In which case the share cost basis would be $23.34, (which is 15% lower than current price as of 12/9/22). If assigned, the next step would be to sell calls at strikes above $24 until assigned to sell.
Trade based on the hope/assumption that RIVN is down at support and is probably not going to take off to infinity anytime soon (or at least not in the next 30 days!).
RIVNIf the market stays choppy tomorrow then this analysis wont be to much help for anyone. Anyone in options looking to grow their small account play stocks like RIVN, RBLX, IWM, ZM, NCLH. If we break past are 30min ORB( Opening Range Breakout) on either side then expect to see some movement, im taking puts under 26.5 and im taking calls over 28.77. Again if we see chop for the rest of the week then get ready for a big move in either direction. The longer we sit here the more and more build up a lot of stocks will have.
Clear the airI want to start this post out by reminding all my followers and anyone reading this...I AM NOT A PROFESSIONAL TRADER. I want to help anyone I possibly can, anyway I can, all while learning myself in the process. That being said, I do know a thing or two and didn't just start trading/analyzing yesterday. I WILL be wrong sometimes. All I can hope is that I'm right more then I am wrong.
Rivian has been frustrating as of late but if I am right in my thesis it explains why. We have already finished Wave 1 and are in Wave 2. The 0.618 fib line has been holding strong but for how long? It could very easily drop down to the 0.786 fib line or even lower. If you are like me then this could potentially be another spot to buy more stock and load up.
I also drew a square for a likely spot for Wave 3 to end should this count prove accurate. Use your best judgment and trade wisely. There are tough times ahead for sure. Question whether or not Rivian can even survive the economic storm that is about to come. They have BILLIONS on hand....but is it enough????
💰💰Good luck to all💰💰
--Tyler
New count/theory?With all this chop and "messiness" I wanted to revisit my overall thesis on Rivian. I have drawn on the chart a fib line from our bottom of $19.26 to our local high of $40.86.
The main problem I have with this count is that would mean we started of in a leading diagnol. But...it is perfectly valid. It would also explain the choppiness we have had since that 40.86 high. If this is the case we should be nearing an end for the wave and should start heading up soon. 🤞🤞🤞
Food for thought. Time will reveal everything.
💰💰Good luck to all💰💰
--Tyler
So damn messyRivian's chart is a gigantic mess. Right now buyers and sellers are fighting for dominance and at this current time...sellers are wining. $27.37 was our last low and still my starting point for our primary Wave 1. If price goes below this point it invalidates this count. As I have said though this chart is a MESS. Until we get some clarity I can't decide on where we are headed. Hopefully tomorrow will tell us what Rivian has in store.
💰💰Good luck to all💰💰
--Tyler
Finally some clarityToday Rivian finally gave us some clarity. To me it appears to be going up in its wave 3. I mean, we had an 11.06% jump today, id call that pretty strong. Judging from the beginning of this wave it will extend but time will tell for sure. Either way I'm holding onto my Rivian for a long time unless something HUGE changes.
I marked on the chart where we can expect this wave 3 to eventually end. Disregard the timeframe, I have no idea how long this wave will take.
💰💰Good luck to all💰💰
--Tyler
Very choppyThis latest retrace has been overlapping almost the whole time. This leads me to still believe we are in our i-ii of 3. If this is to maintain tomorrow needs to start moving higher...and with strength.
💰💰Good luck to all💰💰
~~Tyler
Sub-wave 3?Rivian always seems to be a more complex chart. I'm assuming it is due to the fact the "crowd" isn't as big as say, the S&P, and therefore EWT is more difficult to apply. In any case, my count is still valid as the chart stands. We didn't come down as far in subwave 2 as I expected but that just means sub-wave 4 should be "steeper" than normal as waves 2 & 4 alternate.
This count becomes invalid at $28.5.
💰💰Good luck to all💰💰
--Tyler
We're are we and what is the count?The stated title are very good questions. The market is particularly volatile right now due to traders fighting on if the beginning of Super Cycle Wave 4 started vs Cycle Wave 5 starting. Times such as these are why it is very important to use stops with your trades. Positions can be evaporated overnight if not careful. Counts WILL become invalidated and you nor I are immune to that. That's why you should always be looking at alternative counts.
This count invalidates @ $27.85. If price drops below this point we are either still in sub-wave 2 or headed even lower in which I'll need to revisit the count.
My primary count is we are done with sub-wave 2 of wave 1 and starting sub-wave 3. I labeled an obvious 5 Wave impulse up followed by what looks like an ABC zig zag forming. I also marked where it will most likely end. If this is correct it means we should be starting micro-wave 3 soon and price will be rising quickly. Wave 3 is always the most powerful of the 5 waves.
Good luck all,
--Tylrr
Rivian breaks uptrendPerhaps another retest of the bottom prices we saw a few months ago? If so, a good time to buy a little tiny bit for my ass.
Wave 2 complete?I left the box on the chart to show where we are in relation to where i thought we might end. The price points I set are based on normal end points for second waves. However, wave 2's can technically retrace 100% of wave 1 and still be a valid count.
That being said the count looks complete to me and I suspect we should be on our way up for wave 3 come Monday.
As I told someone earlier, I plan to hold Rivian for at least 5-10 years. I may sell and buy some throught that time but 100% of what I sell will always go back into Rivian . I will also continue to accumulate Rivian at certain price points. So if price does go down a few bucks I'm not worried because I know in a few years these stock will be worth much much more.
Good luck to all,
--Tyler
Wave 2?Today Rivian completed a 5 wave decline(A wave) and started what looks like an ABC retrace for the B wave. If this is the B wave it should NOT go above the 0.236 fib line @$33.75 before coming back down to make a new low below $31.72.
If price goes down below $31.72, then that means the ABC is already done and we are in our C wave of wave 2.
I will be looking to fill an order at that time. I suspect it will either be tomorrow or Monday.
IF I MAKE ANY BUY ORDERS FOR RIVIAN I WILL PLACE THEM ON MY MOST RECENT RIVIAN POST AT THAT TIME!
As always feel free to message or comment with questions.
Best luck to all,
--Tyler
RIVN: Torque to 44?!RIVIAN AUTOMOTIVE
Intraday - We look to Buy at 31.23 (stop at 26.03)
The trend of higher lows is located at 28.60. This is positive for sentiment and the uptrend has potential to return. Prices expected to stall near trend line support. Dip buying offers good risk/reward.
Our profit targets will be 43.94 and 48.00
Resistance: 44.00 / 57.00 / 108.00
Support: 30.00 / 19.00 / 10.00
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