Rivian just broke out of a long-term downtrend and is now retesting that previous resistance as support. Price is coiling inside a falling wedge, sitting right above a key structure zone around $13. This area held strong in the past and could act as a launchpad if momentum steps in.
A breakout above the wedge could send it toward $17 in the short term, and if volume supports the move, there's potential for a much larger run toward $28. Watching for confirmation and strength on the retest — this setup looks like it's getting ready.
Not financial advice. Just sharing the chart.
#RIVN #SwingTrade #BreakoutSetup #TradingView #EVstocks
A breakout above the wedge could send it toward $17 in the short term, and if volume supports the move, there's potential for a much larger run toward $28. Watching for confirmation and strength on the retest — this setup looks like it's getting ready.
Not financial advice. Just sharing the chart.
#RIVN #SwingTrade #BreakoutSetup #TradingView #EVstocks
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.