Rivian Automotive ( RIVN) was in the news Monday as their electric vehicle plans are being trimmed. We looked at the charts of RIVN on October 10 and noted that "... the charts are pointed down. Continue to avoid the long side of RIVN."
Let's check out the charts and indicators again.
In the daily bar chart of RIVN, below, we can see that the shares have continued to weaken. RIVN trades below the negatively sloped (bearish) 50-day moving average line and below the declining 200-day moving average line.
The On-Balance-Volume (OBV) line has struggled from the middle of September and the Moving Average Convergence Divergence (MACD) oscillator is in a bearish alignment below the zero line. 
In the weekly Japanese candlestick chart of RIVN, below, we continue to see a weak picture. Prices are in a downward trend with red (bearish) candles below the weakening 40-week moving average line. There are no lower shadows telling us that traders are rejecting the lows.
The OBV line has weakened since early November. The MACD oscillator is bearish.
In this daily Point and Figure chart of RIVN, below, we can see a potential downside price target in the $21 area.
In this weekly Point and Figure chart of RIVN, below, we can see a lower price target in the $17 area.
Bottom-line strategy: The charts and indicators on RIVN are still bearish and traders should continue to avoid the long side of this stock.
