After a strong downtrend since 2022, Rivian (RIVN) broke out of its falling channel in late 2023 and has been forming an ascending channel since 2024. This structure suggests a potential medium-term trend reversal.
The price is currently around $13.60, sitting just above the 200-day moving average (MA200) and near a key support area of the ascending channel. This zone presents a potential technical entry point if the structure holds.
Technical Summary:
Trade Idea:
If the price respects the channel and rebounds from this zone, we could see continued bullish movement toward $16 and potentially higher. If it breaks below $12.00 and loses the MA200, the bullish idea is invalidated.
The price is currently around $13.60, sitting just above the 200-day moving average (MA200) and near a key support area of the ascending channel. This zone presents a potential technical entry point if the structure holds.
Technical Summary:
- Higher highs and higher lows since early 2024
- MA200 acting as dynamic support
- Well-defined ascen
Trade Idea:
- Suggested entry: $13.00 – $13.60
- Stop loss: $11.90 (below the channel and MA200)
- Take profit 1: $16.00
- Take profit 2: $20.00
- Take p
If the price respects the channel and rebounds from this zone, we could see continued bullish movement toward $16 and potentially higher. If it breaks below $12.00 and loses the MA200, the bullish idea is invalidated.
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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.