I haven't posted on Rivian much lately mainly because it's in an ED pattern for awhile now.
Rivian hit in my box on Wednesday for a low of $27.37. This was followed by a sharp snap back of over 18% in 1 minute.....That's the kind of reaction we expect to see from a bottom. However we won't know for sure unless price takes out $37.38 (wave 2). Our first clue will be if it takes out $36.41.
I still feel like it has another low to make with the rest of the market personally. On the chart i have blue numbers and orange numbers. Both are valid counts but we won't know which is right until price makes a new high or new low. Maybe next week or the week after at the latest we will have our answers. Either way I'm holding for awhile longer and hoping for better prices.
--Tyler
Rivian hit in my box on Wednesday for a low of $27.37. This was followed by a sharp snap back of over 18% in 1 minute.....That's the kind of reaction we expect to see from a bottom. However we won't know for sure unless price takes out $37.38 (wave 2). Our first clue will be if it takes out $36.41.
I still feel like it has another low to make with the rest of the market personally. On the chart i have blue numbers and orange numbers. Both are valid counts but we won't know which is right until price makes a new high or new low. Maybe next week or the week after at the latest we will have our answers. Either way I'm holding for awhile longer and hoping for better prices.
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler