Rivian UpdateOn the micro's Rivian has some serious positive divergence. As said in my last post, I believe the bottom is in for this wave 2. We don't have confirmation yet though, so we could technically make OML toward the 0.236 yellow fib @ $18.66. If that were to happen, I would expect the drop to be swift as well as the move back up. Confirmation doesn't come until we breach $24.57, but once we start to move up, I don't think it will be long before we take that high out.
Don't forget about that turquoise a label. This suggests this drop has all been a part of just the a wave. The reason I feel this is possible...you guessed it, MACD . If this is the case, then I would expect us to rise to around $21-$22 before falling for c wave. Due to how far we have already dropped, and the action carved out thus far, I believe this is all of 2. Time will tell. Good luck everyone.
Rivian Assets at this time:
500 shares
10 calls
I will be out of town for the next two days on a mini vaca for my sons b-day. I'll still have access to the charts via my phone, but it isn't the same as a computer. Due to this I won't be making new posts tomorrow night but will post again Thursday night.
Also, I want to remind everyone, starting March 1st, my posting schedule will be dramatically altered.
