Rivian Update--11/14

Today Rivian extended almost up to the 3.618 which is a somewhat common endpoint for an impulsive wave to extend to as I alluded to this morning in my update. I have labeled an abc for the wave 2 retrace but that could be off by a degree. The box I have marked would not change, however.

I would not be surprised if we just take off tomorrow and don't make another low though. The strength we should have with this move up will be like that of Tesla in that it won't give many opportunities for entry. Another possibility is we start red tomorrow so some can take some profits, or those who are scared can minimize losses. After which the impulsive primary trend up should resume.

I plan on buying more shares and most likely more calls if we get a good wave 2 retrace. Good luck y'all!

Bonam Fortunam,
--Tyler

Comment:

Once we get a bottom to our wave 2 I can start to give more precise targets going forward...I need a full 1-2 completion though.

Comment:

Made a low on the 3min macd indicating we will make a new local low. I would not be surprised if price doesn't make it into the target box. Keep in mind if this is a new bull run as I have called for then the strength in this move with be great.

Comment:

Above $16.82 and odds favor wave 2 completed

Trade active:

Bought 100 SHARES

Comment:

Wouldn't be surprised if we get a reaction off of the 0.786 @ $17.99 for a little retrace before continuing up.

Comment:

If this is our next wave 2 then it should complete around $17.09 and then bounce up to start our 3 of 3

Comment:

Price made it .01 cents from my fib and turned around. This is most likely our wave ii of (iii). If that ii is over then that means we area about to start wave iii of (iii) of (3)

Comment:

$16.76 is the next fib down. Below $16.25 and it changes the count. I'm at work but will watch as able

Comment:

Below $16.25 and I will assume that I was one degree off and we are in (ii)

Comment:

I know this drop seems scary, but I have a full count into the box