Rivian AutomotiveShort
RIVIAN IS ABOUT TO GET CREAMED!!
Rivian has been on a downward slide for some time now. Finally, with some newfound powers, I believe I can put a more accurate count to this mess.
Let's begin with the LEADING DIAGNOL in the beginning. On the chart I labeled a (1), this is our first motive wave. As you see there is overlap between wave 1 and wave 4 within this motive wave. The only way this is allowed is by it being a diagonal, rather it be leading or ending. In this case it is obviously a LEADING.
We then declined nicely for our Wave 3 down to the 1.5 fib line. After this we retraced in our wave (4) in an overlapping fashion. I believe we could still have OMH left up to the 1.0 Fib line @ $22.53. If we do make it to here, I believe we will see a reaction to the downside which will likely conclude anywhere from $9.23-$12.07 at the 1.786-2.0 Fib lines.
If price reaches the 1.0 Fib line and then heads down, I will most likely sell the stock I have with the intention of buying back at the lower price target. If I do so I will make a post on here to update my followers.
Bonam Fortunam,
--Tyler
Let's begin with the LEADING DIAGNOL in the beginning. On the chart I labeled a (1), this is our first motive wave. As you see there is overlap between wave 1 and wave 4 within this motive wave. The only way this is allowed is by it being a diagonal, rather it be leading or ending. In this case it is obviously a LEADING.
We then declined nicely for our Wave 3 down to the 1.5 fib line. After this we retraced in our wave (4) in an overlapping fashion. I believe we could still have OMH left up to the 1.0 Fib line @ $22.53. If we do make it to here, I believe we will see a reaction to the downside which will likely conclude anywhere from $9.23-$12.07 at the 1.786-2.0 Fib lines.
If price reaches the 1.0 Fib line and then heads down, I will most likely sell the stock I have with the intention of buying back at the lower price target. If I do so I will make a post on here to update my followers.
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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