There are few lines that are as deadly to cross as the one that Rivian (RIVN) sliced through yesterday.
Shares of the EV manufacturer followed the same path as Lordstown Motors (RIDE), Fisker (FSRN), and Workhorse (WKHS) yesterday, as they broke below the sacred $10 price.
The more sets-up a Death Watch for Rivian, as the stock is likely to move to $5 and then $2, just like the companies I mentioned above.
My latest video details the reasons why this phenomenon occurs and what to do about the upcoming price drop, whether you love or hate the company…
About the Author
Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.