$RIVN Falling Wedge / Broadening Bottom
Real nice look on the weekly higher low here.
We've broken out of the wedge here, but there is a secondary supply line / creek, that we need to push thru and see a sign of strength come in.
This would be achieved with a 1.618 extension and a retest of the neckline here, where you could typically expect a partial decline of sorts or a checkback before breaking out of the range.
Targets at 30, 40, 70 and ultimately the upper supply zone into 130+. This is a weekly chart, and price rarely travels in a straight line. This could take some patience, but this is how it begins.
We've broken out of the wedge here, but there is a secondary supply line / creek, that we need to push thru and see a sign of strength come in.
This would be achieved with a 1.618 extension and a retest of the neckline here, where you could typically expect a partial decline of sorts or a checkback before breaking out of the range.
Targets at 30, 40, 70 and ultimately the upper supply zone into 130+. This is a weekly chart, and price rarely travels in a straight line. This could take some patience, but this is how it begins.
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