RIVIAN: Buy signal emerged.

٦ نوفمبر ٢٠٢٣

Rivian has found support inside April's HL Zone while the 1D RSI flattened. The 1D technical outlook is only slightly bearish (RSI = 42.485, MACD = -1.120, ADX = 38.728) despite being inside a Channel Down since July 27th. Technically it is replicating the January-April correction, which eventually bottomed when the 1D RSI flattened.

We use the 1D MA200 rejection as a short term buy signal, aiming at the 1D MA50 (TP = 20.00).

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