Rivian Automotive's stock (RIVN) rose in the intraday levels while attempting to recoup some recent losses, marking a fresh profit of 1.12% in the last session, or 16 cents, and settling at 14.40, amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock's movements.
Therefore we expect the stock to return lower, targeting the support of 11.00, provided it settles below the resistance of 15.30.
Expected trend for today: Bearish