We will not have a ton of buying and selling background, but let us check out out the charts and indicators of Rivian.
In this each day Japanese candlestick chart of RIVN, below, we have restricted info but what we see is bearish. Costs are buying and selling down below the declining 20-day shifting ordinary line. We do not have more than enough rate background for the 50-working day line. The every day On-Balance-Volume (OBV) line is in a drop, telling us that sellers of RIVN have been much more aggressive than potential buyers. The 12-day cost momentum examine is not suggesting a slowing of the decline yet.
In this everyday Level and Figure chart of RIVN, under, we can see the software program is projecting a draw back cost goal in the $74 place.
Base line approach: I am in the marketplace for an EV, but the charts of RIVN tell me not to be in the current market for shares of this EV maker. Avoid.
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