Rivian AutomotiveUpdated Rivian Update: Headed higher
Today was a good day for Rivian as it rose over 5%. If this count is to be the correct one than I anticipate an even stronger move higher either tomorrow or Monday of next week. The reason for this, is I expect MACD to make a new high above the high it made on 09 Feb. in order for the larger count to remain intact. Today on the micro chart MACD made its highest high since the bottom on 25 Jan. This is reassuring at the least.
Given where Tesla is in its count, it should help to pull Rivian up with it with the volume it brings. Looking at the chart you may notice I have a turquoise ABC labeled. This just indicates we could get another slight drop lower before launching into the target box. Rather we go straight to the box or get that slight retrace first, all counts point to that next box. Let's see what tomorrow brings.
P.S: Notice how all these moves are corrective 3-wave structures? That to me, confirms we are in fact in a larger corrective pattern, and excuses the sloppy price action we have been seeing.
Don't forget, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
Given where Tesla is in its count, it should help to pull Rivian up with it with the volume it brings. Looking at the chart you may notice I have a turquoise ABC labeled. This just indicates we could get another slight drop lower before launching into the target box. Rather we go straight to the box or get that slight retrace first, all counts point to that next box. Let's see what tomorrow brings.
P.S: Notice how all these moves are corrective 3-wave structures? That to me, confirms we are in fact in a larger corrective pattern, and excuses the sloppy price action we have been seeing.
Don't forget, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
Note
This chart is still very much relevant. Markets are closed tomorrow so we await Tuesday to give us more clues. If you have questions feel free to ask them and I will answer as able.Trade active
Bought 100 more shares
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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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
Related publications
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.