Rivian Update: Awaiting Conformation

Not going to spend much time on this. As stated earlier, there is a chance we have already bottomed in wave (2) and have started to move higher for (3). If price breaks $15.07 it is our first big clue we likely bottomed. Breaking $15.68 confirms it. From there I expect us to hit $16.46 at a minimum. Until we start to hit those targets though, we can still continue lower towards my target box.

I will post any and all trades I make. Good luck!

Bonam Fortunam,
--Tyler

Comment:

This post is still 100% valid. I have a buy order placed for 300 shares of Rivian at $13.50/share. It may or may not fill. If it doesnt, o well. I already have a position and i can just buy more later if it doesnt. This is not telling you to join this trade. This is telling you what I think price will do, and what my plans are. Do with that what you will, but ALL choices are your own.

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Hit the 0.618 to the cent. Awaiting conformation we have bottomed. I currently hold a position of 700 shares total at $14.15 average. My goal is to add 300 shares. Rather that be if we make a new low, or if the bottom is in on a retrace AFTER confirmation

Trade active:

Added 200 shares @ $14.03. Again, trade at your own risk tolerance. Some might find it prudent to wait until confirmation

Comment:

Was just informed by @elisanascar that Rivian will be delisted from NASDAQ-100 on June 20th. Make sure you have tight stops and watch very closely if you're in this trade. Monday will most likely either start out strong to the green(wave 3 started) or a big red due to people panic selling. Point being be ready to guard your assets. I will give this a day or 2 but if it doesn't move to strong green soon I most likely will close my positions

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Good start so far. $14.73 is next target before a tiny retrace to the $14.40ish area. After that we head towards low $15's and hopefully confirmation.

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Ideally we should head up from here

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So far so good. This is what I see as of now

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$15.75 confirms we're in wave 3