RIVN with higher lows - bullishRivian Automotive, Inc. Class ABATS:RIVNvf_investmenthi traders, Technical Analysis & Trade Idea: RIVN (Weekly Timeframe) 1. Market Structure: Ascending Triangle / Rising Higher Lows Higher Lows Structure: Since bottoming out near the $8.00 mark, RIVN has consistently printed higher lows over the multi-year macro structure. The yellow trendline highlights strong, persistent dynamic demand pulling buyers in at progressively higher prices. Resistance Barrier: The primary horizontal resistance zone sits around $17.00 – $18.00. This level has repeatedly acted as overhead supply, capping upside surges. Pattern Formulation: The combination of rising higher lows pressing against a flat horizontal resistance level forms a classic Ascending Triangle pattern, indicating steady accumulation and expanding bullish momentum. 2. Current Price Action & Retest Pullback to Support: Following a recent test above $20.00, price has pulled back to test the confluence zone around $15.80 – $16.00, aligning with the rising trendline and lower boundary of the current range. RSI Momentum: The 14-period RSI is hovering near 48–51, resetting neutral momentum and leaving ample room for an expansion leg to the upside without being overbought. 3. Expected Breakout & Upside Target Anticipated Breakout: As the price consolidates above the trendline, an upside breakout through the horizontal resistance at $17.50 – $18.00 is expected in the upcoming weeks. Target (Measured Move): First Target / Key Resistance: $25.00 Measured Move Projection: A breakout above $17.00 – $18.00 targets an approximate +$8.02 (+47.23%) extension, projecting price directly into the $25.00 – $26.00 major supply zone. 4. Trade Execution Plan Entry Zone: Look for entries near the current trendline support ($15.00 – $16.00) or upon a confirmed weekly close above $18.00. Invalidation / Stop Loss: A weekly close below the ascending trendline (~$13.80 – $14.00) invalidates the bullish multi-week thesis. Take Profit Zone: Scale out near $24.50 – $25.00.