Rivian price discovery modeRivian (RIVN) went public on Nov. 10, 2021 at an initial offering price of $78. Rivian is still in it's price discovery mode since. Rivian currently makes the R1S sport utility vehicle, R1T pickup truck and a delivery van for Amazon. It's planned production is 25,000 for 2022. The company said yesterday it had made 2,553 and delivered 1,227 cars in the first quarter. I'm starting to look for a bullish entry, but that will take planning, patience and time. Here's levels on the 4hr chart:
R3 = $58.18
R2 = $55.23
R1 = $52.27
pivot = $49.31
S1 = $46.35
S2 = $43.39
S3 = $40.43
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com