$RIVN Getting ready for a HTF move to $15-$16

25 Jul 2023

• Global liquidity is trending down
  
• Bearish RSI divergence on SPY and QQQ
• RIVN like practically all EV stocks and Tech stocks are over-extended from MA's
  
• Daily TD 8 Count
  

$27.16 may have been the HOY. If not, I'm expecting for big money to push price up to $28 before we see a steep pullback or reversal. RIVN has not tested the daily 50, 100, or 200 in a long time. The daily 9-EMA has been holding every test recently. Will look for break of the daily 9-EMA for confirmation.

I've dabbled in options. Might look for some December puts and short an equity position for intraday moves.

Remember, we want to lose on the idea, not the execution. Make sure to look for entries near levels you can risk against.

Good luck!

1 Ogo 2023

Nota

I've had a change of perspective. We are bullish until RIVN closes below the 9D-EMA and 21-D EMA

3 Ogo 2023

Nota

Welp, we indeed got our close below the daily 9 ema. I'm anticipating a move to the $22 area to fill a previously unfilled gap. Good luck everyone!

20 Ogo 2023

Nota

So far so good. I don't know that the market will stop at the next gap fill. Rising cost of energy and rising cost of credit can really hurt auto manufacturers, especially RIVN

We could see a very painful stretch of 12-18 months for RIVN long-term holders.

Best of luck!

6 Sep 2023

Nota

Not much has changed but RIVN has arrived at a key inflection point. For thesis to remain in tact, this resistance level must hold.