Rivian problem continues

Alright This is my personal analysis which I am sharing if it is helpful at all

If you are long in Rivian and you don't want to hear the other side, please do not read this anymore. It will disappoint you

The best thing about the stock market is ONLY one thing, what is that?? The price moves in waves, nothing goes straight down or up but if you have a strong emotion for the stock then you can't see the dance, you see a flat line up or down. That is the main problem with most of the people including me.

Let's jump to the chart.
Weekly in Blue, Pink for Daily and short term in Black.

If you see blue .236 fib level, you will notice it was not easy to break 40.95 and now we are .382 level and you notice it's not easy to break 22.04. Can it go to 26 to the trendline? of course it can but why to trade against the trend PLUS I don't see any momentum divergence (rsi) yet ?


The trend suggests 18.72 short term and this year low shows to be around $6. So any bounce if at all should and will fail.
By the way +- 4 dollars move this week so please be wise and chose your side