RIVN 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.
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.