Rivian Update: OML Looks Needed

It looks to me like Rivian needs OML for this wave 2 to be complete. If you notice on the chart we are about to run into an area of high resistance though @ $14.04. The 0.618 fib extension & 0.5 fib retracement both are the EXACT same, this = very high resistance. I will be watching closely but there is a chance I will be buying a decent chunk at this juncture if it appears to struggle getting past it. MACD appears to say another low is coming up, however there is always a chance we go higher from here. With the rest of the market set to fall I doubt it though. Hopefully the market pulls Rivian down right past the $14.04 area and it's a non issue lol. 🤣Wishful thinking I know.

I also want to point out that the 1.0 for this a-b micro move down is right in between the 0.618 & 0.786 fib retracement lines. These are both very common end points for this type of move down. This, along with the MACD, helps to give me extra confidence price will ultimately visit my box before rising back up in our 3 of iii.

There is a turquoise 1 & 2 marked on the chart in the off chance we have bottomed already and start out green tomorrow. Past $15.07 and I think we've bottomed and are already heading up. In my last post i stated my trading plan. That has not changed, and I will post any and all trades I make tomorrow for Rivian on this post.

Good luck, and may God give fortune and have mercy on us all!!

Bonam Fortunam,
--Tyler

Trade active:

Buy order for 300 shares @ $14.05 placed

Comment:

Looks like we're in our wave 3 of c

Trade active:

Buy order triggered

Comment:

Looks like we're in 4 of c. shouldn't go much higher then $14.27 but could go to the .786 @ $14.35 before heading lower again for 5

Comment:

OML and this count to the downside is complete. I plan on entering the rest of my position at that low, which should be about $13.86-$13.95. It could go a little lower as the bigger count is king and says we can go as low as $13.10 and be completely normal. As always, I will post my trades...but they're coming soon.

Comment:

Something came up and I will be away from my computer for the rest of the day but I will have my phone. I will post if I make any trades, if I still have internet access....

Comment:

MACD is saying this move down is over and we're headed up. But we NEED above $15.07 to say probably in we're in 3 of (3). Above $15.68 confirms it