RIvian hitting 200 SMA and fill the gaps?RIvian hitting 200 SMA and fill the gaps around the $32 zone, $27 Zone and $24 Zone?
RIVN trade ideas
Have we bottomed??I haven't posted on Rivian much lately mainly because it's in an ED pattern for awhile now.
Rivian hit in my box on Wednesday for a low of $27.37. This was followed by a sharp snap back of over 18% in 1 minute.....That's the kind of reaction we expect to see from a bottom. However we won't know for sure unless price takes out $37.38 (wave 2). Our first clue will be if it takes out $36.41.
I still feel like it has another low to make with the rest of the market personally. On the chart i have blue numbers and orange numbers. Both are valid counts but we won't know which is right until price makes a new high or new low. Maybe next week or the week after at the latest we will have our answers. Either way I'm holding for awhile longer and hoping for better prices.
--Tyler
RIVN Rivian Automotive options Ahead of EarningsIf you haven`t sold RIVN Rivian after the bad news:
Then looking at the RIVN Rivian Automotive options chain ahead of earnings, i would buy the $30 strike price Puts with
2023-6-16 expiration date for about
$6.60 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Adios RIVNThe implosion of crypto markets impacts all other non-sensical trading and investment ideas. Not to say that some business models are faulty, but many are, shall we say, trading at rather inflated levels.
RIVN is a case in point. It found a lifeline in early October when 30.72 (RED) provided a nice bounce, but after today, we see that it is now a distant memory. Both 30.72 (RED) and 29.45 (ORANGE) were breached. Don't be a knife catcher.....that's not how you succeed in this business.
Descending Triangle Earnings today AMC. Price appears to be hemorrhaging today.
Perhaps owners are afraid of results this afternoon and getting the heck out of Dodge. I guess there is no telling what the reaction to the news will be.
Estimates are lower than last quarter.
Short interest is around 9.6%
No recommendation/Short with a break of support.
ATL 19.25 ATH 179.47.
Price is on the verge of breaking support.
Upcoming Quarter's Earnings
Announce Date
11/9/2022 (Post-Market)
EPS Normalized Estimate
-$1.83
EPS GAAP Estimate
-$1.94
Revenue Estimate
$554.06M
EPS Revisions (Last 90 Days)*
Up-1 Down-9
Group 2
Up-1 Down-10
Rivian Overlook: Last week recapLast Week overview:
- It is important to find Gaps in the candesticks.
- Each gap WILL close eventually.
- In this example we see the gap closed with a smallest touch, but nonetheless it HAS been closed.
- Falling wedge followed by rising underlying asset.
Final leg down?Looks to me as if we have started our wave 5 down in this ED. I'm staying out until we bottom but I have marked a probable ending to subwave 3 where we will have a small retrace. After which we should head down for subwave 5 of wave 5. Good luck yall!
~~Tyler
Seems like forming a bullish flag. I'm in at 34.49This is a long-term investment for me. It seems that a bullish flag is forming after hanging around a significant decline.
Ending Diagnol??Rivian looks like it may be in an ending diagnol. This recent retrace today overlapped wave 1. The only way this makes sense to me is if it is an ending diagnol as that's the only way wave 4 can retrace into wave 1 territory.
It's either that or my count is wrong which is very possible. Time will tell. Let's wait and see what price action tells us this afternoon.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
~Tyler
RIVN FlagTrading breakout only. If you're trading the consolidation, it broke vwap, so there's that.
Mitigate risk.
---------------------------------------------------------------------------------------------------------------------------------------------------------------- Not Financial Advice NASDAQ:RIVN
Is Sub-wave 3 Almost Over?I haven't quite figured out how to better/best predict timing of pricing points. Something I hope to significantly improve on. Nonetheless timing doesn't change price targets. I believe the S&P is set to decline tomorrow in what I hope is wave C of sub-wave 2 of wave 1. If that's the case I'm almost certain Rivian will make its move down to the $25.71 area.
Either way, I fully believe Rivian will reach my target area. The only question that I have...is when?
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
~Tyler
The Carnage Isn't Over As stated in my last couple posts Rivian was due for a bigbdrop. The big retracement in the markets attributed to the delay on Rivians price dropping IMO. Nonetheless, the drop was coming regardless of what the market has planned.
We are still in our sub-wave 3 of wave 3. $24.5-$25.71 is our target zone before a retrace for sub-wave 4. I'll be able to generate a more reliable target when we finish this sub-wave. As I said before "I AM NOT TRADING RIVIAN YET". When we get closer to the end of wave 3 is where I'll look for an entry to go long in Wave 4. Or I might just wait until wave 5 is done. Depends on what the chart tells us when the time comes.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
~Tyler
Tomorrow will be uglyThe S&P seems ready to start its final trek down in its Wave 5 tomorrow(hopefully). With it Rivian will, IMHO, head down towards my price box of around $25. There should be a decent pull back for sub-wave 4, if not expect it to extend wave 3. You can see this by looking at the MACD. Good luck!
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
~Tyler
Sub-wave 3 of Wave 3Looks like we've finished sub-wave 2 and are about to make our journey down for sub-wave 3. The third wave is most commonly the strongest and longest lasting wave, and we're about to enter sub-wave 3 of Wave 3...
$25.71-$24.50 are my next price targets. After that Rivian should rally for a sub-wave 4 up to the $26.90-$28.47 area. S&P should bottom tomorrow or Thursday(I hope) at the latest so I'm not sure if or how much that'll affect Rivians targets.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
Long (but fast) Way to goRivian is obviously still currently in its Wave 3 and has a long way to go. Ideally/normally it will go to AT LEAST the 1.618 Fib line of Wave 1. That price point is $24.99. But Wave 3 is the most common Wave to extend so we will have to wait and see how this plays out. Only time will tell.
Short this stock if you really have to, but with the major markets starting to bottom its getting riskier to trade short. I'm waiting for the bottom to go long myself. So for now, I'll watch from the sidelines.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
~Tyler
RIVN Bear FlagNASDAQ:RIVN Going to trade the breakout of this.
Which ever direction it goes, I'll catch it.
Mitigate your risk, don't be an idiot.
*Not Financial Advice
The Blame GameTomorrow Rivian should start its next trek down in its Wave 3. Most people will say the stocks falling due to recalls or this or that. Long story short, we knew the stock was going to drop before this news even came out. So, it does nothing to change my strategy.
For arguments sake you could say this drop was B of 2. Which would warrant a rise above $37.38. Anything above there and we're still in our wave 2.
Looking at our MACD though, I am still confident we are in our wave 3 and will continue our descent tomorrow.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
Rivian Started Its Wave 3 Right on ScheduleAs stated in my thesis last night Rivian was due to start its Wave 3 and play catch up with the market. It has done exactly that, down 8.5% already today.
I am eyeing $29.74 @ the 1.786 fib line for a start to a sub-wave iv retrace to about $31-32 potentially. We have to wait until sub-wave ii finishes to have a better idea where sub-wave iv will likely end.
I have said before Wave 4 is one of the riskiest time to trade counter trend, let alone a sub-wave iv. I'll be standing on the sidelines for now until we have more clues on our primary Wave 4. If my thesis is right we should have a potential 10-20% profit margin on that trade. Only time will tell.
👑💰TEAMWORK MAKES THE DREAMWORK💰👑
--Tyler
Is Wave 2 Finished?In my chart titled Rivian in its Wave 2?? On Oct 2nd I posted that Rivian was likely about to begin its Wave C of 2 retrace. I was slightly premature with that call and it was the last sub wave 5 of wave 1. After that Rivian dropped from $32.92 $31.02 for 5.8%. In that post i stated "either way its not a good time to trade imo"
If you waited it out for clues, you could have bought near that bottom of $31.02 and sold in the box I had labeled "Wave 2" at the .382 Fib line $37.03 for a cool $6.01point 19.4% profit.
No one can see the future though. We just have to wait for clues to guide us to what the market is MOST LIKELY going to do.
We're now most likely about to start our wave 3 and play catch up with the rest of the markets. There is a possibility of OMH up to the .236 Fib line for $38.45. Either way your trading for pennies at this point. Once we get more clues I can give more detailed price points. However at this time I can only say Wave 3 will most likely conclude around $24.99-$21.27(1.618-2 fib lines).
👑💰TEAMWORK MAKES A DREAMWORK💰👑
$RIVN $40 PT | Triple top incoming?$RIVN is consolidating in this flag formation, I'll be watching for for a rally into $40 area which would put in a triple top while consolidating inside the flag formation.
Rivian in its Wave 2??In my last post I stated "if we break $40.56 then it invalidates my primary count." Well, needless to say, we broke that price point.
What I am seeing here is we have 5 sub waves down to complete our primary Wave 1.
The sharp increase from our last low leads me to believe it is most likely our A of 2 retracement. I have marked the 0.5-0.618 fib lines as a possible end point for wave 2. Only time will tell. Either way it is not a good time trade Rivian IMO.
RIVN - LONG SWING TRADE IDEARIVN could be a potential long trade for a few reasons:
First, it is forming a Buy Setup on the daily chart and it just put it a new higher low at an area of strong support
On entry, RIVN would be breaking out over three major daily moving averages (9 SMA (Purple), 21 SMA (Blue), 50 SMA (Yellow)) with room to correct to the 200 MA (Orange)
In support of the trade, RIVN has been stronger than the market during this recent move lower and it setting up to bounce with the market
Additionally, the 2:1 reward to risk is quite reasonable and could be exceeded if RIVN makes a strong move and breaks out of the double top at 41
A trailing stop loss is recommended as this is still a bear market and RIVN does have the double top as resistance. I would expect some price action around 37 as well due to retracement levels and previous areas of minor support/resistance
