Looks 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...
Rivian 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...
Tomorrow 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....
As 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...
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,...
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...
Last week I described us being in wave 2(black). This is still a valid count and my primary theory until proven wrong. Beyond the line I have marked and it invalidates my theory. At that time my Alt count(orange) becomes my primary for a target of $43.24-44.64 and end of Wave 5. If I am correct and this is still a Wave 2, then tomorrow won't be a great day for...
This is my first post and I am still a novice. Any differing ideas please let me know. You can't learn without being challenged. Hopefully this helps someone out there. Wave 1 and 2 are clearly visible here. Knowing the length of Wave 1 helps us to determine/predict where Wave 3 will end. $24.62 is the 1.618 Fib line of Wave 1. This would be a good place to...