Rivian (RIVN) is currently at a binary decision point, sitting just above the 50-week EMA and a key uptrend line. Price is testing a strong confluence zone near $13.38–$13.57, with rejection seen from the $15.49 resistance. A break below this area could lead to a drop toward the $12.43–$11.54 demand zone. You can refine your entry using the high-wave candle by boxing its high and low on the 1-hour chart. A break above the box with volume would signal early bullish momentum; a break below suggests further downside. Confirm the move with hourly RSI above 50 and Stochastic RSI curling up. This setup offers a high-probability directional move as the next few candles decide the trend.(Break down by AI Chat gpt except For Chart)
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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.