"Rivian Stock Gaps: Key Insights"

10 thg 7

There are 2 gaps formed in ''Rivian Automotive'' in the 1st half of 2024; the first gap called '' Exhaustion Gap'', formed on last February, as it appeared after a downtrend that started in July 2023, (which means this downtrend is finished!), and after this, the stock witnessed a sideway move for 4 months, which is considered an accumulation phase, then after this accumulation, the stock witnessed high volatility in the end of June 2024, to form a new gap called ''Breakaway Gap'', as this gap shows conviction in the new uptrend direction, and this gap is not ''Filled''.

currently, the stock closed below the last peak 16.35, which is considered the level that needs to be violated to confirm the uptrend, which will trigger further rises near 16.85 - 18.15 - 19.50 - 20.50 - 22 on the short term.

The stop-loss lies below 14$.

the indicators are heading toward the positive side, which confirms the mentioned positive scenario.

The information and publications are not intended to be or constitute any financial, investment, commercial, or other types of advice or recommendations provided.

12 thg 7

Ghi chú

Rivian automotive has been surpasses the 50% retracement, which is considering our 2nd targets

The rest of mentioned targets are still valid!