Rivian Update--11/9

The last couple days have not been kind to Rivian at all. We rallied almost 20% just to get smacked right back down. Looking at the 3min and 1Hr MACD though, they are both on positive divergence, and unlike Tesla, Rivian carved out a good impulsive 5 wave structure from the $15.29 bottom. That being said we 0.01 cents away from invalidating this part of the count and carving out a new low. This doesn't mean the whole count is wrong by any means, just that the bottom hasn't been struck.

As always you should know your own risk tolerance and act accordingly. Part of the reason for buying options so far out is in case something unforeseen like this throws a wrench in the gears. Zoomed out clearly shows we have either bottomed or at the minimum are VERY close. If we have bottomed, I expect us to head towards the 0.618 @ $26.52 next. Let's see what tomorrow brings us.

Bonam Fortunam,
--Tyler

تعليق:

So we made a new low...here are the fibs to the downside. The 1.382 & 1.618 are both common endpoints for c waves. We hit. 02cents from the 1.382 and bounced. We're still on pos div at this time