$RIVN - RC -
Added 2024-05-07 11:21:03 +0000 UTC$RIVN report after the close today and the price is already up +5% in the PM now.
We observed for the month of April $RIVN holding on the 1.27 Fib at $8, holding very well it must be said, so right now it is still in a descending wedge but has broken above its 50 Day MA right now in the PM.
There appears to be a resurgence with EV's right now, however $LCID is struggling in the PM tho after another weak earnings.
For me $RIVN needs to get above the blue line at $11.47 and recapture this strong support line to show signs of a reversal.
So right now, along with $NIO, we only have one wave confirmed, the pull back will confirm a lot more for us....but in terms of R v R, $RIVN is down at an undervalued level but the variable here is that they report earnings later, I would not be comfortable taking a gamble on this earnings play.
