RIVN Descending Megaphone Pattern SHORT

RIVN is in a slow down trending pattern right now within a megaphone

reflecting increasing volatility. The MACD shows the downward momentum

with more of the histogram negative below the zero level.

At present, the K / D lines are crossing over and above the histogram.

characteristic of a reversal to the downside.

Based on pivots in June and July, the horizontal support is at ~ $30.

Accordingly, a target on a short trade setup is just before $30.

This appears to be a good short trade setup where Rivian is

following the downtrend of the sector leader TSLA.