RIVN Long-Term Bullish, But Significant Crash Potential Near-Ter
As an EV play that's quickly proving itself to be a long-term survivor, and even a company that thrives financially as first to the market with its status symbol and pricier trucks, I can't help but draw comparisons of Rivian to Tesla a few years back. Those TSLA shares of course, went on to crush its bearish critics.
Today and near-term though does warrant caution. RIVN stock's weekly chart raises concerns of larger downside risk, perhaps as much as 50% from it's recent high after confirming a topping / reversal candle back inside a downtrend channel, coupled with a bearish RSI c/o, and which combined, have kept confirmation of a larger bullish trend from signaling.
Married puts, collars, and a handful of variations of fully or partially protected spread strategies using options with long RIVN stock are worth consideration imho.
Today and near-term though does warrant caution. RIVN stock's weekly chart raises concerns of larger downside risk, perhaps as much as 50% from it's recent high after confirming a topping / reversal candle back inside a downtrend channel, coupled with a bearish RSI c/o, and which combined, have kept confirmation of a larger bullish trend from signaling.
Married puts, collars, and a handful of variations of fully or partially protected spread strategies using options with long RIVN stock are worth consideration imho.
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RIVN has traveled just over $4 south. Today's lows put establish a test for a double bottom to be put in relative to the November low. I'm still concerned over downside risk within the channel and a deeper double bottom to emerge. But given a significant correction over the past month and today's testing position, a managed, bullish married put strategy has a good entry point imho