Battle of the New EV NASDAQ ComponentsLucid and Rivian, both new components of the NASDAQ:NDX , have been showing up on the High-Volume Institutional Activity recently.
NASDAQ:LCID has the beginnings of a bottom attempt developing with a Dark Pool buy zone emerging, but it's been slow-going for this EV company. Professional short-term trading is evident in the current run up, as it is in other EV companies this week, spurred by the bankruptcy of Lordstown Motors, many would say.
NASDAQ:RIVN has a clearer Dark Pool buy zone developing at this bottoming level with the same Pro Trader footprint in the current run up. This type of bottom formation provides a sturdier support level--evidence of more conviction from the institutions?
Both stocks have a lot of work to do to complete their bottoms for more than short-term trading at this time. Resistance AND competition are heavy ahead, as it's still early days in the race to dominance in EV Auto Manufacturing.
