Correction: I was analyzing another stock/trade idea earlier today which had the 50-day EMA just above it & a history of that EMA acting as resistance. RIVN is already above the 50-ema & it has only been so-so resistance in the past so pls disregard & only focus on the price levels.

Sure. I’ll post an update in a new post for all to see. Basically, it appears to be consolidating while working of the near-term overbought conditions slightly below my target zone & I still favor one more thrust up to hit it although it did hit the first decent resistance on my 60m charts so I’ll post those asap.

16.10 is just above the HOD of 16.09 & a safety buffer to help minimize taking a breakout that proves to be a whipsaw. Then you have the 50-day EMA just above that (yellow line on my chart) which has capped all previous rallies (Aug-Nov ’22) so a solid break & especially a solid daily close above the 50ema would significantly increase the odds that the breakout will stick.