The Long Investor

$RIVN

Added 2024-11-13 11:01:17 +0000 UTC

$NIO holders always feel they are hard done by but in actual fact, $NIO is about in the middle of the EV growth companies performance table

$LCID and $RIVN have performed worse technically than the Chinese EV companies, and these are American companies, so do not believe that $NIO is being treated unfairly, the sector got killed and trying to recover now

$RIVN went all the way down to its 0.887 Fib at $9.46 exactly to test support, its final support level, $NIO has not tested its 0.78 Fib yet either.

VW have announced today that they are investing further in their partnership with $RIVN and the share price is up +13% in the PM now

Price is very close to the 200 Day MA and the 0.618 Fib now at $12

So we are looking at the start of a new impulse wave here now too, I suspect $12.32 could be Wave 1 complete and we will expect Wave 2 next, when Wave 1 completes ill add the support levels but the 50 Day MA at $11.30 looks like the sweet spot to find support for now.