RIVN forming a close to perfect Head and Shoulders pattern that is quite large, there is also a secondary ascending triangle pattern which is a bullish pattern. Not much resistance all the way up, potential 35% gain.
Trade active
Finally, the neckline has broken! The price has a lot of momentum now and should rocket up, a retest of the neckline will be unlikely but still possible.Trade closed: target reached
wow!! 🤑🤑 RIVN has landed on the moon in premarket today. My target was reached and my position has been closed via limit order at $20.48. On hindsight I should have closed only partial of the position and trial my stops to see how high the remainder can go. But anyway a profit is a profit!! At this rate of momentum this stick could POSSIBLY go higher past the next resistance, we shall see. But I will not be opening new positions at these levels.
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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.