LeonaClemens
2022-09-27

$RIVN $Rivian Automotive, Inc.(RIVN)$ Very interesting price action over the last few days especially with such low volume in an overall bearish market. For this reason I decided to do a little TA here. Looks like most are using the double top at $40 as the top of the ascending triangle pattern. To me, it looks to be around $34.80+-.

I believe the $40 were a breakout and fail on two occasions at another area of resistance and it is now back in the pattern, retested and failed today. Rarely do we get a price divergence between companies .$F $Ford(F)$ grossly oversold ATM and$RIVN seems to be holding on by a thread on relatively no volume.

So, I took a closer look. RIVN had a spike on 9/16 of almost 3X daily volume with relatively no price movement. That lead me to believe dark pool was at play. So, in a nutshell I think Ford sold shares of RIVN to supplement the$1B overage they reported and will get a bounce upon reporting it (as soon as today AH). And, RIVN will fall. In puts exp 9/30. **NOT FINANCIAL ADVICE**

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