After establishing a “Go” trend, $RIVN has seen prices correct against the trend.
GoNoGo Trend is painting weaker aqua bars and we saw Go Countertrend Correction Red Arrows a few days ago indicating that prices would struggle in the near term. GoNoGo Oscillator has now fallen to the zero line on heavy volume (dark blue). We will look to see if the oscillator can find support at that level and rally back into positive territory. If it does, that will indicate momentum has returned in the direction of the “Go” trend, offering a low risk opportunity to participate in the trend. We could then look for price to set a new higher high above $40.
