Rivian touches SMA resistance - Analysis - 04-12-2023

Economies.com
2023-12-04 11:50AM UTC

Rivian Automotive's stock (RIVN) rose in the intraday levels, touching the resistance of the 50-day SMA, while trading alongside the downward secondary trend line in the short term, with negative signals from the RSI after reaching overbought levels, doubling negative pressures on the stock.

 

Therefore we expect the stock to return lower, targeting the support of 15.30, provided the resistance of 19.48. 

 

Expected trend for today: Likely Bearish 

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