Long term UP, mid term DOWN
TSLA and RIVN move pretty similar, and I think TSLA is due a drop out in the foreseeable, so think the same will happen with RIVN before a big move up.
This is an example of a accumulation phase from another stock, and much the way I track TSLA (see my other posts for examples), it works for RIVN too to my eye.
I was recently asked what my thoughts were on RIVN, so I'm just posting this since it's done now.
But personally, I'm not going to touch it until it's sub $10 again, and probably even as low as $5 as the spring part of accumulation can hit with brute force down before heading back up.
Additionally, you know the hedgefunds will want it as low as possible before closing their short positions, and plenty of these stocks end right near the gutter before ramping, so down at $5 or less would make sense to me as a loose thought.
This is an example of a accumulation phase from another stock, and much the way I track TSLA (see my other posts for examples), it works for RIVN too to my eye.
I was recently asked what my thoughts were on RIVN, so I'm just posting this since it's done now.
But personally, I'm not going to touch it until it's sub $10 again, and probably even as low as $5 as the spring part of accumulation can hit with brute force down before heading back up.
Additionally, you know the hedgefunds will want it as low as possible before closing their short positions, and plenty of these stocks end right near the gutter before ramping, so down at $5 or less would make sense to me as a loose thought.
Note
Stupid chart posted drawings wrong, but here's a screenshot of what the above was supposed to look like:
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.