$RIVN - RC -
Added 2023-07-07 14:03:34 +0000 UTCHas shot up vertically since $13 and there is no doubt it is getting squeezed here as shorts continue to cover.....the price action is making me uneasy now because there is panic covering and this sort of movement is often met with a sell off, once a Wave 3 extension goes beyond the 1.618 Fib level, it is usually indicating a squeeze and this is abundantly clear.
$RIVN needs to try and stay structured in order to keep this impulse wave, a pull back at some stage and staying above the blue line or at the 2 Fib would be ideal and this could be considered Wave 4 before going higher again.
I know a lot of members are in on $RIVN, so consider what your strategy is, if you are long $RIVN, taking some profit makes sense here but if you are trading this, don't let greed take over, a lot of people will be looking for exit strategies here shortly
Comments
Wave 3 looks like it’s in. Where would you update wave 4 target to be since 3 extended a bit higher than 24.89? Thanks!
Adam L
2023-07-17 12:54:55 +0000 UTCIf someone is long why would they take profits?
Dan G
2023-07-09 19:23:22 +0000 UTCha excellent!
Gareth Neary
2023-07-07 17:10:45 +0000 UTCI forgot I bought this stock when you mentioned it earlier and I am loving the gains so far. TYVM!!!
Whale Watch
2023-07-07 16:59:14 +0000 UTC
