Rivian has been on a downward slide for some time now. Finally, with some newfound powers, I believe I can put a more accurate count to this mess.
Let's begin with the LEADING DIAGNOL in the beginning. On the chart I labeled a (1), this is our first motive wave. As you see there is overlap between wave 1 and wave 4 within this motive wave. The only way this is allowed is by it being a diagonal, rather it be leading or ending. In this case it is obviously a LEADING.
We then declined nicely for our Wave 3 down to the 1.5 fib line. After this we retraced in our wave (4) in an overlapping fashion. I believe we could still have OMH left up to the 1.0 Fib line @ $22.53. If we do make it to here, I believe we will see a reaction to the downside which will likely conclude anywhere from $9.23-$12.07 at the 1.786-2.0 Fib lines.
If price reaches the 1.0 Fib line and then heads down, I will most likely sell the stock I have with the intention of buying back at the lower price target. If I do so I will make a post on here to update my followers.
Bonam Fortunam,
--Tyler
Let's begin with the LEADING DIAGNOL in the beginning. On the chart I labeled a (1), this is our first motive wave. As you see there is overlap between wave 1 and wave 4 within this motive wave. The only way this is allowed is by it being a diagonal, rather it be leading or ending. In this case it is obviously a LEADING.
We then declined nicely for our Wave 3 down to the 1.5 fib line. After this we retraced in our wave (4) in an overlapping fashion. I believe we could still have OMH left up to the 1.0 Fib line @ $22.53. If we do make it to here, I believe we will see a reaction to the downside which will likely conclude anywhere from $9.23-$12.07 at the 1.786-2.0 Fib lines.
If price reaches the 1.0 Fib line and then heads down, I will most likely sell the stock I have with the intention of buying back at the lower price target. If I do so I will make a post on here to update my followers.
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.