RIVN is showing a pullback for a long entry

RIVN on the 2H chart rose 67% to begin July as part of the larger EV sector rally

which included several other tickers including those from UK and China. It has

pulled back significantly since completing a double top on July 13th. Price is

now hovering over and supported by the mean VWAP line anchored to July 1st.

The two time frame RSI indicator shows both lower (blue line) ane higher time

frame ( black line) RSIs at 50 or higher with the blue line closer to that transition

zone. The zero-lag MACD shows the subtle cross under the histogram which

has changed from negative to positive. Overall, although the best entry is at

$20 from a very deep pullback, I believe that RIVN is now setup for a long trade

following a continuation or even a call option contracts trade. I will take a

position in call options at this time.