tsla and lcid, both make lows, auto industry is vulnerable during a recession. RIVN has attempts 30 levels for multiple times, i bet it will break down finally. It developed a reversed cup handle pattern on weekly chart. I took put on 11/25 around 30. However, powell speech is bullish then the price pops up to 32.75. Not a good sign
Comment
⋅
12/07 update it attempted the 28 level again, lcid made a new low, tsla pop seems over. (china weak demand vs strong car supply), also many auto companies start to build evs. anyone check out bmw i7? very nice car. my 1st target still 25.
Comment
⋅
reached 1st target, next target 22 TSLA push car sales before year end, cuz next year the preferential policy ends. Elon let a chinese become TSLA ceo, another sign of slow growth of ev. The hypothesis is right, ev sector is weak.
Comment
⋅
reached 2nd target. next target is new low. target 19