As y'all have been seeing, Rivian was playing really nice, hitting all the standard targets, and then all the sudden started to break down. Rather that was the news they were removed from the NASDAQ-100 or something else, it didn't follow through. The only bull count I see left is a leading diagonal into our wave (3), which is extremely unlikely. Diagonal's are so unreliable and for a wave 3 of any degree starting as a leading diagonal...I just don't think it is likely at all. Nonetheless, it is still possible, so until we invalidate it I'll leave it on the chart.
A breach of $13.62 officially invalidates this count and means it was most likely another wave 4 of the C wave it was in.
Whenever we get some more information that I can use I will track Rivian again. Until it starts to paint a more clear picture though I am not trading it. Rivian has a lot of stuff going for it right now. It also has a lot of bad going on with its revenue. Can they pull out of this and be successful?? Imagine how they would have fared had we not had COVID, and the supply crunch that destroyed a lot of businesses. The fact that Rivian has pulled through thus far and is still planning their expansion (plant) into Georgia, gives me great confidence in their future. I don't trade on hopes though, I trade on facts. So for now, I will avoid Rivian.
Bonam Fortunam,
--Tyler
A breach of $13.62 officially invalidates this count and means it was most likely another wave 4 of the C wave it was in.
Whenever we get some more information that I can use I will track Rivian again. Until it starts to paint a more clear picture though I am not trading it. Rivian has a lot of stuff going for it right now. It also has a lot of bad going on with its revenue. Can they pull out of this and be successful?? Imagine how they would have fared had we not had COVID, and the supply crunch that destroyed a lot of businesses. The fact that Rivian has pulled through thus far and is still planning their expansion (plant) into Georgia, gives me great confidence in their future. I don't trade on hopes though, I trade on facts. So for now, I will avoid Rivian.
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.