Rivian hasn't been doing so well. The stock price has suffered from a long and sustained selloff and is well below the book price per share of $14.90. The descending wedge pattern that's emerging may indicate that the company's fortunes are about to change. Maybe the EV market will take off suddenly, maybe Rivian will announce a new model or post a surprise earnings report, or maybe an acquisition is looming. Rivian is ripe for acquisition and I can think of at least two tech companies that would be interested in buying their way into the EV market. Apple (
AAPL
) has always been rumored to dive into the EV business and has the cash to buy them outright. Amazon (
AMZN
) is Rivian's largest investor and needs them to manufacture their electric delivery vehicle fleet. Either way, the descending wedge (known as a "terminal" in NEOwave circles) if confirmed is likely to result in a full retrace of the wedge in a time span of approximately 3 months.
AAPL
) has always been rumored to dive into the EV business and has the cash to buy them outright. Amazon (
AMZN
) is Rivian's largest investor and needs them to manufacture their electric delivery vehicle fleet. Either way, the descending wedge (known as a "terminal" in NEOwave circles) if confirmed is likely to result in a full retrace of the wedge in a time span of approximately 3 months.