Today may not have seemed that important, but to dismiss it as just another day is a mistake. As one of my followers mentioned earlier, MACD flashed its first green signal since 29 Dec of last year. I mentioned the other day the MACD line was about to cross the signal line, and that's exactly what we got today. Looking at the daily chart, it also appears we have our first 1-2 of our larger A of (C). There is still the possibility we're in an ED with OML to come, but that is seeming more and more unlikely. Not to mention all the good news that has been coming out about Rivian, mainly the R2 and moving into foreign markets, and the earnings coming up should help to be catalysts for this move higher. Should we make a new low I still feel it will be very marginal and only presents another buying opportunity. As mentioned earlier I bought another 5 calls today bringing my Rivian assets to 520 shares and 35 calls.
As you can see towards the top of the chart that is where I am projecting price to take us for (C). There is also the possibility price takes us all the way to the 1.618 but until I have more data I can't conclude for sure where our top might end up.
Tomorrow I will be watching closely and will update if fireworks happen. I also want to remind everyone that beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My final regular/normal posting will be on that day.