Rivian just broke out of a long-term downtrend and is now retesting that previous resistance as support. Price is coiling inside a falling wedge, sitting right above a key structure zone around $13. This area held strong in the past and could act as a launchpad if momentum steps in.
A breakout above the wedge could send it toward $17 in the short term, and if volume supports the move, there's potential for a much larger run toward $28. Watching for confirmation and strength on the retest — this setup looks like it's getting ready.
Not financial advice. Just sharing the chart.
#RIVN #SwingTrade #BreakoutSetup #TradingView #EVstocks
A breakout above the wedge could send it toward $17 in the short term, and if volume supports the move, there's potential for a much larger run toward $28. Watching for confirmation and strength on the retest — this setup looks like it's getting ready.
Not financial advice. Just sharing the chart.
#RIVN #SwingTrade #BreakoutSetup #TradingView #EVstocks
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