Jan. 15 at 12:34 AM
$RIVN It wasn't sporting of me to laugh at another's assessment without at least providing my own. And I'd rather I hadn't laughed at another's assessment. I apologize for that. I can laugh at the performance of the stock, but there's no upside in laughing at another person. Unless of course that person is trump/musk and related.
Back to it...A lot going on here. I can see why a week back someone might think this was bullish as if it might repeat that river flow through the rapids pattern or something? For me though, I see measured solid consistent volume with that first sell down after the rise in early November. And as price hit the 20 ema, it rode it for a few days not committing to either side and then it does. And it's all roses after that. And only on one pullback did it hit, wicked under a bit and even closed just under. But the very next day, an open above followed by a pretty big upside move. A little drawdown, not hitting the 20ema this time and then two fatty candles upward. And all that volume was pretty solid, what you'd expect. Then the drawdown off that high, beginning on 12/22 leading down to the 20ema again, no problem, one might think. Except the sell volume was weird. Splotchy, uneven, not balanced, light even. Suspicious. To me, anyway. But no worries yet until the gravestone leads to the red which closes under the 20ema. But again, we've seen that earlier - minus the gravestone, notably - and price could rally above, right? But the very next candle which opens and closes below the 20ema is not encouraging at all. And it led to today's candle which closed below the 50sma. Now my assessment is the 200, way down yonder at 14.50 is highly likely. I will trade toward that as a target, if it doesn't gap down so hard pm that it's not worth it.
And...I could be wrong here and price shoots up like magic or something else that I'm not seeing.
Best to all!
