$Rivian Automotive, Inc.(RIVN)$ We closed out Friday very well with a $1.27 / +7.58% in retained Market cap growth. Don't get me wrong we could give some of that up, but I believe we should be in wave 3 of iii right now so to sputter out this early would be worrisome. Not to mention we haven't even breached the wave 1 of iii high. We need to breach wave 1 by enough that it gives room for a wave 4 retrace. Ideally, I would like us to hit the 1.382 @ $19.60 or even extend higher before we have our next retrace.
Notice the red line on the MACD. I want us to breach this line which would be another indicator we are in fact in wave 3 of iii. Not required but typically something you should see. Hopefully we jump at least another $1. Once I feel we start to get close to a local top I am going to sell most of my calls. I forgot to mention to y'all, on Friday, I sold 5 of my calls that expire 15 Dec. to capture some profits. Good luck y'all!
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