$Rivian Automotive(RIVN.US) currently exhibits a typical weak moving average structure—the 20/50/200-day moving averages are all in a bearish alignment, with the stock price suppressed below all major moving averages, making every rebound a point of resistance. The RSI has not entered a clear oversold zone, indicating that the downward momentum has not been fully released. More troubling is that the GEX hedging distribution is concentrated at several lower strike prices; once key support levels are breached, short gamma could accelerate the decline.
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