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Rivian Automotive

Rivian Update: Should Retrace for (ii)

By TSuth
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I have been pretty clear on my stance with Rivian thus far. I believe we are in the very beginning stages of it's wave III. If this line of thinking is correct, then this should be a VERY lucrative trade and one I intend to lean into a little harder. I'm watching for a 3 wave retrace into my box and will most likely start buying some more calls. I haven't shopped around yet so if y'all know of a contract with a strike around $25-$30 I'm all ears. Will most likely use a 60-120 day exp. I will update tomorrow as able.

Bonam Fortunam,
--Tyler
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Idk if y'all have checked, but this stock is up 18.12% since I called the bottom...and it has much much further to go!
Handel aktiv
Bought 10 ----Jan 19 $20 calls
Handel aktiv
Bought 5----Dec 15 $20 calls
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Today we either finished all of this little retrace or just the micro a wave. Next day or two will tell us. I work the next two so no new post until Wednesday night
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Today was a good day and after market showed people's enthusiasm for Rivian. I would have preferred we made a new high above $18.43. Since we did not there is a chance we fall tomorrow to finish micro c of ii. Given the strength we showed after hours though makes me think ii is over and we are starting iii. Good luck yall and I'll make a new post tomorrow night!
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In case people are nervous with this drop, the chart below is Tesla before it took off for its 1 of 3. Notice the similarities?
snapshot
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On positive divergence and at this time, bottomed in between the 0.618-0.786. I would not be surprised if we move up from here. This could technically just be a though. Because I am working I am not buying anymore at this time.
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snapshot
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Going to be busy for awhile. I will make a new post tonight though around 2100-2300hrs CST tonight.
Elliott WaveTrend Analysis
TSuth
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Bonam Fortunam,
--Tyler

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