Back to the stone age.Since the supposed impulse (from what i've thought it was) failed,
this would be the only alternative that i can see on RIVN.
RIP up until the next significant bounce... (Motive wave...)
RIVN trade ideas
Rivian is struggling. Trade idea for 27/02/2024Electric car manufacturer Rivian Automotive Inc. reported financial results for Q4 2023, according to which the loss per share amounted to 1.36 USD and the company's revenue reached 1.31 billion USD.
Analysts had expected a loss of 1.35 USD per share, which led to a decline in quotes. Rivian expects vehicle deliveries in Q1 2024 to be around 10-15% lower than in Q4 2023. The company must also lay off 10% of its full-time employees.
However, Rivian has an agreement with AT&T Inc. for the pilot supply of SUVs and vans. Therefore, the issuer has the prospect of increasing revenue above current expectations.
Given these circumstances, we have chosen to examine the Rivian Automotive, Inc. (NASDAQ: RIVN) stock chart.
On the D1 timeframe, support has formed at 10.06, with resistance at 16.55. Quotes hit a historical low since the company's IPO. Conditions have appeared for corrective growth and a return to the boundaries of the 12-20 channel.
Furthermore, quotes are expected to remain within the side channel. A breakout of its upper limit may become possible after news about Rivian's sales growth or a strong Q1 2024 report.
On the H1 timeframe, a rebound from the 10.06 level could set a short-term target for a price increase at 14.56, while in the medium term, it could hover around 19.57.
Also, we cannot rule out a decrease to around 9. In this case, the targets mentioned above remain the same but have more significant potential for recovery growth.
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Rivian ($RIVN) Rebounds From Record Low In Premarket MoveShares of Rivian Automotive, Inc. ( NASDAQ:RIVN ) rose in premarket trading on Monday after the battering they received last week in the aftermath of the electric vehicle startup's quarterly report.
The stock plummeted by about 38% in the week ended Feb. 23 and closed at a record low after the company announced 2024 deliveries guidance that fell notably below Street expectations. Following the earnings, sell-side analysts lowered their forward estimates for the company and, as an extension, their price targets for the stock.
Rivian Inc. ( NASDAQ:RIVN ) also suffered downgrades in the hands of JPMorgan, UBS and Truist Securities. JP Morgan downgraded the stock from Neutral to Underweight and reduced its price target from $20 to $11.
UBS downgraded the stock from Buy to Sell and lowered the price target from $24 to $28.
Truist cut its rating on the stock from Buy to Hold and took down the price target from $26 to $11.
Monday's rebound could be because the sell-off may have been overdone. Following last week's dismal stock performance, Tesla investor Gary Black defended the company. He flagged the company's likelihood of emerging as a credible number two to Tesla by 2030.
The company has a key catalyst in the near term as the Irvine, California-based company gears up to launch its second-gen R2 low-priced EV on Mar. 7.
For a reversal, the stock should fill the gap formed when it gapped down following the quarterly results and go past a key resistance around the $16 area. The stock is currently in oversold territory, going by its relative strength index.
In premarket trading, Rivian ( NASDAQ:RIVN ) rose 1.09% to $10.18 and suddenly plummeted by about 2%.
RIVN guides itself lower- but is it a dip buy? SHORTRIVN spends more to produce of its nice truck than it sells them for. This is a recipe for a
disaster which is now baking in the oven Earnings have plummeted. If guidance was better
than realities forecast there might be a dip buy here. i have a variety of positions shorting
RIVN when it runs a countertrend correction I will take a hedging long position until the
correction is over. I use these shorts to balance my portfolio against risk from an overall
falling market. Balanced in short vs long positions dollar for dollar and in the options
balanced in expiration times spread across the next almost two years. I find this keeps
the portfolio safe. I also look to LCID for a similar scenario while having a bullish bias on
WKHS. NKLA is a whole 'nother story. SHORT RIVN do not dip buy .
The chart is what you might expect. The disaster is what it is. This is basically a falling wedge
and no where near impending a breakout upside.
Rivian - RIVN - long positionDear traders,
Id like to share this idea in order to take long positions.
9- 11$ is is a good price range to look for buying opportunities.
Please note that it is already in 10$ quite psicological level it might start consolidating.
Additionally RSI is clearly oversold and prices already went down quite aggressive.
best,
Rivian Update: Is the bottom near?As I said in my last post, we're past standard fibs and have extended to the downside in the micros. As for the larger pattern, the standard end for an ABC is between the 1.0-1.382 with possible extensions down to the 1.618 fib. At this time, I want to make things as simple as possible and concentrate on only the current pattern in front of us, so I have removed the yellow fibs. This leaves us with only one set of fibs to guide us, and they're from the downside pattern starting at the 27 July 2023 high.
Looking at only this, we can then deduce a possible conclusion for this thing to finally bottom. If it is to be a standard ABC down, it should end within the target box drawn. Worst case scenario, according to this count, is price extends down to the 1.618 @ $8.84. Should price bottom in the box drawn though, it should then rally to at least $19-$23. If it extends to the 1.618 then the target area for a retrace is $18-$22. How long this takes idk. It is a corrective structure, and they can happen quickly or be very drawn out. For now, this is all we have to go off of to form our thesis. MACD always makes its low within the A wave of a corrective pattern. As of now, that low is still in the beginning of Oct 2023.
Rivian Plans Cut to 10% of Salaried Staff
Rivian Automotive Inc., ( NASDAQ:RIVN ) to cut 10% of its salaried workforce and set production guidance well below Wall Street’s expectations as the maker of electric vehicles grapples with stagnant demand and economic turbulence.
Rivian Automotive Inc., ( NASDAQ:RIVN ) will build 57,000 vehicles this year, roughly in line with its 2023 output, according to a statement Wednesday that also detailed fourth-quarter results. The forecast fell far short of analysts’ average estimate of more than 80,000 units in 2024.
“Our business is not immune to existing economic and geopolitical uncertainties,” Chief Executive Officer RJ Scaringe said on a conference call. “Most notably, the impact of historically high interest rates, which has negatively impacted demand.”
Rivian’s shares fell 16% to $12.98 as of 6:32 p.m. after regular trading in New York. Rivian ( NASDAQ:RIVN ) had already tumbled 34% this year through Wednesday’s close.
Rivian ( NASDAQ:RIVN ) expects an adjusted loss before interest, taxes, depreciation, and amortization of $2.7 billion for the full year.
That outlook underscores the challenge of scaling production and stemming losses in an environment of waning consumer demand for battery-powered vehicles. The automaker has aimed to challenge EV market leader Tesla Inc. following Rivian’s blockbuster stock listing in 2021, but it has since dealt with supply-chain woes and other challenges.
The layoffs, part of an aggressive cost-cutting effort, follow job reductions last year and in 2022. Capital expenditures this year will rise to more than $1.7 billion, Rivian ( NASDAQ:RIVN ) said, up from a little over $1 billion in 2023. It had initially forecast spending on the order of $2 billion last year.
Rivian ($RIVM) builds two consumer EVs and a battery-electric delivery van at a sole plant in Normal, Illinois. There’s a second factory in the works near Atlanta, where it plans to build its first mass-market, lower-priced EV starting in 2026.
Rivian Automotive Inc., ( NASDAQ:RIVN ) reported an adjusted loss last quarter of $1.36 a share, compared with an average $1.33 deficit in estimates. Revenue of $1.32 billion narrowly topped expectations.
Rivian ( NASDAQ:RIVN ) lost more than $40,000 on every vehicle it delivered in the last three months of the year, more than the loss of a little over $30,000 per vehicle in the third quarter. The company attributed that, in part, to delivery of fewer lower-cost vans to Amazon.com. The quarterly loss showed improvement compared with the $124,000 it lost on every vehicle a year ago due to supply chain issues.
RIVIAN Is this earnings slump a buy opportunity in disguise?Rivian Automotive (RIVN) missed earnings by $0.01 and that is expected to put extreme pressure on the stock price on the short-term. However, are those short-term tensions a buy opportunity in disguise?
Well for the long-term, Rivian remains within our technical model as every significant correction since the start of 2023 has been within the -47% and -48% range. That gives a floor price of $12.75, with only weekly closings below it being potentially dangerous for disrupting the long-term outlook.
An oversold 1D RSI (at or below 30.00) is a technical buy entry and there are two bullish scenarios unfolding for Rivian one on the short and one on the medium-term. The short-term scenario includes a +62.74% like the November 10 2023 - December 20 2023 rebound, with a $21.00 Target, which would make a 1W MA100 (yellow trend-line) test. The medium-term scenario is modelled out of the April 26 2023 - July 27 2023 rise which rallied by +142.79% to the 1.382 Fibonacci extension. A repeat of that gives us a 2nd Target at $31.00.
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Rivian Update: No good rotten dayToday was not a good day for Rivian to say the least. Maybe, looking back with hindsight, I should've seen this coming. We never hit the 1.0 extension @ $13.07 and that is normally a must have for me. Given all the other signals Rivian was given I chose to chalk this up as one of the rare times the 1.0 wouldn't get hit. We had and still do have major positive divergence despite this hard drop, the micros seemed to be behaving as one would expect for a move higher, price was bouncing around the larger 0.236 extension & in between the 0.618-0.786 retracement fibs. However, we still hadn't hit that 1.0. Then within 1hr of the earnings report, over 2M shares had traded hands and down price went.
Well due to all this volatility, we finally hit that elusive 1.0 extension. Somehow, even with the strength of this fall, MACD maintained on the larger timeframes. The question we're all asking now, how low does this thing go? Unfortunately, I can't give that answer right now, but the 1.0 is a very common end point. Those of you that had commented today saying price is going here or there, I encourage you to share with the others how you came to that conclusion. Rather it be different indicators or fibs, it would be nice to know how you came to your conclusions. As of now, the medium and micro counts are obviously busted, and this is a deep retrace for the larger count.
According to EWT guidelines, this structure has met all the needed parts to be considered complete. I think it could still easily need another slight low to complete this last move down and bottom on neg div within the micros. It is possible for B waves to extend below the origination of A waves, but for obvious reasons I would prefer that not to happen. Again, if you feel strongly that it will move sub $11.68, I encourage you to post that with evidence and not just feelings. Feelings are obviously running strong right now with people either feeling justified or defeated.
With this recent drop, it lowers the larger target for wave (C) to $30.99-$43.56. How long it takes us to get there idk. As long as this count stays intact the end target remains in that area. The lower this count moves the lower that target moves too as long as the count stays intact. MACD gives no inclination the larger count will invalidate, and if anything, verifies this is C of (B) as MACD didn't make a new low. Only time will tell though, after today I wouldn't be surprised if we will get some kind of a retrace tomorrow. If we get a decent one, I may trim some shares to then pick them back up at a lower price. If we don't, I will continue to hold for now. I'm going to be very busy tomorrow so idk how closely I will be able to watch the markets, but if I make any trades, I will post them on here.
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.
Rivn For short term I look at it as bearish but for long term around jun to July will bullish I will buy calls ones is the bottom BMV:RIVN
Rivian Update: Still choppyIf 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.
Rivian Update: Headed higherToday 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.
RIVN Rivian Automotive Options Ahead of EarningsIf you haven't sold RIVN after the Recall of Its Vehicles Due to Loose Fasteners:
nor reentered the Double Bottom:
Then analyzing the options chain and the chart patterns of RIVN Rivian Automotive prior to the earnings report this week,
I would consider purchasing the 16usd strike price Calls with
an expiration date of 2024-3-1,
for a premium of approximately $1.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
You missed out on TSLA but earnings next week, TSLA pumping and Rivian trucks are attractive, they pumping some numbers and they volatile. A break above 17 can pump for a good 13% so this def on my watchlist.
Rivian Update: Stayed in a rangePrice didn't give us many answers today. We basically stayed in a range, but we didn't make another low either. MACD is rising back towards the zero line, flashed a buy signal, and the positive divergence has held thus far. Price did make a high on neg div in the micros though. So, a slight red day tomorrow is possible especially given where I feel Tesla is in its respective count. Corrective counts are so fun to count, aren't they??? Let's see what tomorrow brings, but Rivian could be waiting for the earnings report to make any big moves. Who knows, maybe by then Tesla would have finally bottomed helping give Rivian the momentum needed to have a strong raise higher. Sorry no answers today, hopefully tomorrow we will get some.
Rivian Update: Orange count it isIf y'all remember, Sunday night I posted 3 different possibilities for price to take. The last two days followed my orange count to the T. I also mentioned if we follow orange, I would be buying more shares. Well today I posted in an update that I bought an extra 100 shares and increased my position size by 20%. Where we are in the count, the risk / reward ratio is too good to pass up. We could still head lower if this count is incorrect, but it would only be temporary.
Today we dropped to the 0.786 retracement almost to the cent and then began to bounce higher. Structure appears complete, and we have hit standard fibs needed for this B wave to be considered complete. We did bottom on neg div which I am not a fan of. This could indicate price has intentions of making another low before raising higher again. If it does make another low, it should be marginal.
Should today be the B wave bottom we've been waiting on, price should start heading higher tomorrow towards the next target box for C of (A). That price target is $17.37-$18.98. Yes, I know other analysts have lowered their targets for Rivian. I honestly don't care what they say lol. I read one article that said they made their decision based only on the idea we're in an "EV winter". They lowered their target over 30% based on that?? Give me a break and do some actual work. As y'all know I make decisions based on hard data and cyclical patterns using EWT. A proven form of analysis that is one of the most accurate forms known in use. Anyway, let me hop off my bandwagon.
I will be watching closely tomorrow and will update as needed.
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.
Rivian Update: MACD conflictingAs the title suggests MACD is a little contradicting right now. On the micro 3min chart, MACD made a new local low and then turned right around to make a new high. LOL. The low suggests we're headed down again tomorrow to finish out the orange count. The high that happened right after suggests price is headed up tomorrow and that b is already finished. Technically speaking we did enter the price area of the top of the orange box.
Looking at the larger counts, the move up today from the $15.85 low barely even shows up on the MACD. However, if you look at the hourly chart, MACD came right down to the zero line and started to move sideways. This is a hall mark of wave 4's. Although, there is no guideline restricting it, if this is wave iv it is very deep. It dropped all the way past the 0.5 retracement of the wave iii. If it is the orange count, it is following the standard retracement fibs almost perfectly.
Long story short, we don't have a definitive answer on the most accurate count. We're at least down to two main possibilities. Tomorrow is my wife and I's 12-year anniversary so I will try to watch the markets but could be limited in my responses.
If white count is right, then we should head to the low $17 area next. If orange count prevails, we should head lower towards the orange target box.
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.
Rivian Weekend UpdateRivian, much like Tesla has a couple different counts that are possible where we're at right now. In the bottom right of the chart there is a key labeling the different counts. ALL three have an equal chance of coming to fruition. They're also all very similar to each other but the details are important to the long-term count.
Primary suggests iv is done and we're headed up for v to our next target in the high $17 - low $18 area. MACD, fibs, & structure support this count the most IMO.
1st ALT suggests wave iv isn't done yet and we should head a little lower to the yellow box before heading up for wave v of C of a. Normally you won't see MACD go much below the zero line during wave 4's though so I'm skeptical of this count.
2nd ALT states we already topped in a larger a wave and are about to head lower for b to the $15 area. MACD supports this count and fibs/structure also support this count.
I know, there are many possibilities from here. As I have said in the past, corrective patterns can be complex and difficult to count. This isn't necessarily complex right now, but there are just too many options to make a definitive decision. One thing to take away from this, though without 100% confirmation, I'm saying the bottom is in! I am holding my positions right now and if price falls to the yellow box I may buy in more, and if it falls to the orange box I will 100% buy more shares.
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.
RIVN Stock – Opportunity Knocks?EV startup Rivian (NASDAQ: RIVN) caught the market’s attention recently when it revealed that its vans would no longer be exclusive to Amazon as the four-year exclusivity agreement between the two companies ended.
This opened the door for other companies to do business with the EV company, and AT&T quickly jumped on the opportunity, signing an agreement to include Rivian vehicles in its fleet as soon as early 2024. The news boosted RIVN stock, and even though it closed 2023 up almost 40%, there’s still a lot of potential for future growth that could reward investors.
Ending its Amazon Deal
Rivian became a public company in 2021, the same year it launched the world’s first electric pickup truck. It was met with great fanfare in the market, but the company has been on a roller-coaster ride since its IPO.
Troubles started for the company in 2022, when its stock tumbled after it had to recall nearly all of its 13,000 vehicles on the road to fix a steering defect. Following a roughly 140% rally over the course of three months in August 2023, RIVN stock began dropping with profit taking. While the stock closed 2023 up almost 40%, so far this year RIVN stock is down 29% and is still trading 79% below its IPO price of $78.
Against this tumultuous backdrop, investors were relieved to get some good news in Rivian’s Q3 results. One important development announced during its Q3 results was that Rivian will allow customers other than Amazon to purchase its commercial electric vans. The agreement with Amazon, its 17% shareholder, in 2019, included provisions preventing Rivian from selling its commercial vans to other customers, giving Amazon exclusive access to them for four years.
AT&T Partnership
Following this news, on December 14th, telecommunications giant AT&T announced that it will begin adding the Rivian Commercial Van and R1 vehicles to its fleet in early 2024. In addition to that, the partnership between the two companies makes AT&T the exclusive provider of connectivity to all Rivian vehicles, in the U.S. and Canada.
AT&T had previously revealed that it’s committed to achieving carbon neutrality by 2035, and according to the telecom company, integrating Rivian’s electric vehicles into its fleet is part of its plan to cut transport emissions and reduce its carbon footprint.
With AT&T also bcoming the provider of connectivity to all Rivian vehicles in the U.S. and Canada, the automaker is provided with a more connected driving experience, using over-the-air software updates to consistently improve its vehicles with new features that elevate the driving experience for its customers.
RIVN Stock Q3 Results
Adding to the good news, the company’s Q3 results were better than expected, recording a revenue of $1.34 billion, a 149.44% increase from the same period in the previous year, and beating estimates by $22.36 million. Even though Rivian is still operating on a loss, with an EPS of negative $1.19 in Q3, it still beat estimates by $0.13.
The news caused RIVN stock to surge almost 60% in December, as interest in electric pickup trucks increased following the release of Tesla’s Cybertruck.
RIVN Stock Catalysts
Aside from this partnership, there are other factors that could lead to massive growth for Rivian. The most important is how Rivian is positioned in the market compared to its peers. For instance, while Rivian announced better than expected Q3 results, automaker Ford announced that it would cut production of its F-150 Lightning in half. Even though the Lightning is the electric version of its best-selling pickup truck, the company only sold 3,503 F-150 Lightning pickups in Q3, compared to 186,974 vehicles of its non-electric F-150 model. Ford cited “changing market demand” as the reason for its production cut.
Meanwhile, Rivian raised its 2023 production guidance to 54,000 electric vehicles, up from 52,000 in August. The company stated that this increase is due to progress on its production lines, the ramp-up of its in-house motor line, and the supply chain outlook.
According to the company’s Q3 earning call, it delivered 15,564 vehicles out of 16,304 vehicles produced in the quarter, recording a loss of $30,648 per vehicle delivered. Despite that, it’s still an improvement from last year’s 6,584 vehicles delivered, with a $139,277 loss per vehicle.
Declining Lithium Prices
Another factor that could help Rivian in the future is the expected improvement in the company’s gross margin thanks to declining lithium prices. Although lithium prices may vary by region, a price index tracked by Benchmark Mineral Intelligence fell 81% in 2023 and analysts expect further declines in 2024.
Future Partnerships
Also, the conclusion of Rivian’s four-year partnership with Amazon opens the door for partnerships with other companies. Even though its agreement with Amazon ended, Rivian still remains committed to delivering 100,000 vans ordered by Amazon by 2030.
This ongoing relationship with Amazon, coupled with the new deal with AT&T, shows Rivian’s growing influence in the EV market and provides potential growth opportunities in the future.
Electric Pickups
Another advantage Rivian has is its focus on electric pickups, which could position it as the dominant company in that market.
Other EV startups, such as Lucid and Fisker, are struggling to compete in the market of sedans and SUVs, delivering 1,457 vehicles and 1,097 vehicles in Q3 respectively. Whereas legacy automakers like Ford delivered 20,962 vehicles – the second highest number of EV sales in Q3 after Tesla’s 435,000 vehicles. Newcomers like Lucid and Fisker struggle to gain market share in a field swamped by well established players.
Now, these EV startups seem to recognize the opportunity which the electric pickup market presents. Fisker announced its own pickup truck, Fisker Alaska, which is set to be released in 2025, and Lucid previously revealed plans to release an electric pickup truck by 2030.
However, Rivian has a first mover advantage that allows it to compete with legacy automakers in the electric pickup segment. Its focus on this segment could also help it outpace other EV startups.
Even though electric pickups are still a fairly new concept in the EV industry, with just 2% of all pickups sold in the US in 2023 being electric, the market shows potential for long-term growth. In fact, the electric truck market was expected to grow at an annual growth rate of 34.2% from 2022 to 2023, fueled by governments’ increased focus on emission-free vehicles and new policies in commercial and logistics sectors.
This segment of the EV market will likely be helped along by policies like the Biden administration’s goal of having 50% of all new vehicle sales be electric by 2030. Other initiatives like the EV Acceleration Challenge, are meant to encourage industry stakeholders to make commitments to support the transition to electric vehicles. As time passes, these governments and stakeholders will target the broader truck market for transitioning to electric – benefiting RIVN stock in the long-run.
Challenges
But this is not to say that Rivian is without its challenges. For starters, Rivian is continuing construction on a $5 billion plant in Georgia, which is intended to be the company’s largest production facility. But this comes with a risk.
The state of Georgia and local governments planned to provide Rivian with $1.5 billion in subsidies. Unfortunately for Rivian, these subsidies were met with a legal challenge that has halted it for the time being at least.
Despite this legal battle, Rivian is still moving forward with construction on the plant and is expected to begin producing cars at this location as early as 2024. Rivian also had to cancel an agreement with Mercedes Benz to produce electric vans in Europe, stating that it decided to focus on developing and producing Rivian’s own vehicles.
RIVN Stock Forecast
With all of these factors in mind, Rivian could be a great investment opportunity for long-term investors who don’t mind the fact that the company still has a few years to go to reach profitability as long as it’s poised for strong future growth.
RIVN stock saw impressive growth in December 2023 due to great Q3 earnings results and the conclusion of Rivian’s exclusivity agreement with Amazon. Now, the door is open for the EV startup to do business with other companies, the first of them being the United States’ leading telecommunication company, AT&T.
Rivian is set on increasing its production and dominating the EV market’s small electric pickup trucks segment, which could lead to the company reaching profitability and completely owning the segment. There’s a long road ahead before RIVN is in a position to achieve this, but if you’re a patient investor who doesn’t mind waiting, then RIVN stock could be a promising opportunity at its current price.
$RIVN - ladies and gentleman start your enginesNASDAQ:RIVN - this looks like the perfect long going into earnings. Looking at the chart, Rivian tends to rip with very volatile moves up (and down). Looks to have bottomed based on the chart. Significant volume on 2/8 with a bullish engulfing candle. MACD cross confirmed as well. The last two times the chart appeared to bottom with MACD crosses we have seen 100%+ and 45%+ gains in a fairly short timeframe. Currently have mapped around a 30% gain from closing price on Friday. I am optimistic and added a small starter position on Friday, 2/9. I will keep averaging in up until earnings.
RIVN a short entry on the rejection by VWAP SHORTPIVN on the 15-minute chart was trading up against the dominant supertrend from last
Thursday. Mid-morning price hit the resistance of the intermediate term mean anchored VWAP
and reversed as suggested yesterday by the bearish divergence on the zero-lag MACD.
Tomorrow is federal news which could increase general market volatility.
I see a short trade targeting 15.25 in the area of the bottom of two-volume profiles
anchored back 2 weeks. The stop loss is 15.9 at the highs of nearby candle wicks. Once the
the move gets underway, those already in long positions may close to take profit and add
into any short selling underway.
RIVIAN 40% -50%+ on what could just be a lower highEV has been hated lately. I look for areas of value where sentiment is overly negative.
RIVIAN is showing relative strength to the market today, currently up 3% while the a lot of the market bleeds.
The range forming on RIVIAN has a gap above at $22-$23, I think we fill that.
$15 has been a pivotal level in the last year or so for Rivian and I see that level holding with a bullish inverted head and shoulders.
Again, this is just a range trade with good R &R.
Rivian Update: FINALLY some good price actionWe FINALLY some good price action today. Price ended 10.11% up from its LOD, MACD made a new local high, and price finally started to raise with strength. The reason I mention with strength is because of that high MACD made. That was very important because had it not made a new high, this would have turned out to be just another minor c wave before dropping even further. However, it and price BOTH made new local highs.
If you can follow my count, we are currently topping in wave iii, with OMH possible, and wave iv to follow. Wave 4 should take us down to the 0.786 area around $16.10 before raising again for v of C of a towards the 1.618 fib if this is to remain standard. Wave 2 was deep and short, so I expect 4 to be shallow and long in order for the theory of alternation to stay intact.
Don't forget though, this is an overall larger corrective count by my thesis so it can become extremely complex at times. This makes it harder to count, but ultimately it should head towards my larger target box that has $35.58 as a minimum target. That is partially why i have the turquoise ABC on the chart. If you recall from some of my older posts c-waves can be 3 or 5 wave structures. Price has already hit the 1.0 of the A-B waves, so this could be it for the initial a wave of this larger count. I don't think this is the case, but very possible.
Thought process simplified:
1. We make a 5-wave C wave higher to the 1.618 @ $17.69 area to finish initial a wave.
2. We make a 3-wave C wave higher which would complete the initial a wave.
Price action should tell us within the next couple trading days which will come to fruition. Botom line is, today was much needed and mixed with the daily MACD, makes me that much more confident the bottom is officially in.
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.
