Rivian Update--11/20

Lately it seems to me, Rivian just doesn't feel much like cooperating. It's overall following the path one would assume, but it just isn't quite normal. Maybe Tesla is having an outsized effect on it as some have suggested, maybe these are the first clues we're getting showcasing trader sentiment shifting back to a bearish bias in the markets, or maybe it's just being stubborn and doing what markets do best...confusing people.

I have an ALT (turquoise labels/yellow box) placed on the chart which shows this could all still be part of wave (ii). If that is the case, we will either make another marginal high or just fall from this area down to the yellow box. This move up from $15.93 just doesn't seem to be impulsive. Started out looking great, but then price just kind of sputtered out. I would also expect MACD to be rising with much more strength, as of right now, the micros are on neg div.

If this thing is to remain impulsive then it needs to start raising with much more strength and soon. Both the MACD and price. The count is there, its complete, all it needs is volume and the right catalyst. Everyone also assumes that Tesla is what props Rivian up. What if, at this current time, Tesla is the one holding Rivian back? Food for thought. What I would like to see, within the next day or two, is price start to head up or even tag my next target starting at $18.70 with "clear impulsivity". Like I said before, all the ingredients are there, say one. Good luck everyone!

Bonam Fortunam,
--Tyler

تعليق:

Should be working out the last 4-5's in this c wave. I wouldn't be surprised, like I said in my post, if we drop to tag the 0.786 before raising higher.