Rivian AutomotiveUpdated Rivian Update: Still choppy
If y'all remember, I had a turquoise micro abc pattern headed up to the box. This was suggesting the move up for C of (A) would be a 3-wave move. The reason for this is because c-waves can consist of either 3 or 5 wave moves. This is the exact pathway I believe price is taking. Due to this, I accumulated another 100 shares today in preparation for the upcoming move higher. This brings my total to 720 shares and about 30 options.
This count fits in well with what I am expecting from Tesla too. Every chart stands on their own, but Rivian seems to follow Tesla like a lost puppy sometimes. Tomorrow Rivian will release its earnings report and it is expected to have over 90% growth from the same quarter of 2022. This should help boost the stock price OMHO, but price action will most likely be very volatile when it is released.
Rivian has recently hired many big names to help steer its ship on the right course of action. I believe that along with the other plethora of good news will be reflected in the structure very soon. I didn't think it would take this long for us to rise in strength, but it is long overdue and with the good news earnings should bring, I have much optimism for tomorrow and the rest of the week.
Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
This count fits in well with what I am expecting from Tesla too. Every chart stands on their own, but Rivian seems to follow Tesla like a lost puppy sometimes. Tomorrow Rivian will release its earnings report and it is expected to have over 90% growth from the same quarter of 2022. This should help boost the stock price OMHO, but price action will most likely be very volatile when it is released.
Rivian has recently hired many big names to help steer its ship on the right course of action. I believe that along with the other plethora of good news will be reflected in the structure very soon. I didn't think it would take this long for us to rise in strength, but it is long overdue and with the good news earnings should bring, I have much optimism for tomorrow and the rest of the week.
Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
Note
Was going great until someone obviously dumped a TON of sharesNote
Pretty surprised by this drop tbh. The one thing I want to mention is we finally hit the 1.0 fib extension of the larger A-B. I'll make a new post later on tonight.
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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.