Rivian Kicking Off Potential Uptrend

Hey, all. I'll get down to it. Obviously RIVN has been an incredibly tough stock to own. Fake out after fake out. It has been brutal - unless you have been nimble enough to buy the dips and sell the rips.

I would like to posit, however, that RIVN is going to start marching back higher here over time. In the signal system I have been taught via the TM strategy, Rivian is putting in a range expansion to the upside on the weekly time frame. If you take the range of the past monthly consolidation period, attach it to the "mode" (or central zone of the consolidation range), it gives you a target of $25 over the next few months. Now, whether this is another fake out just to reverse on us... again... remains to be seen of course. It is early in the idea. But potentially offers a decent risk/reward position here.

I just do not see Rivian really going away at all and, if they can keep refining their business, they could see some success going forward. Anyway, hope you enjoy this idea! As always, position carefully as the market is risky business.

Including the Daily Chart below for your reference as well.