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RIVN Spikes Up to $12.70 Resistance Level

Written By: ChartChamp

November 13, 2024

Rivian (RIVN) stock has rallied after announcing an expansion of its partnership with Volkswagen (VWAGY), with the German automaker pouring more money into a joint venture.

RIVN has held above the $10 support level, and this news announcement has caused a spike up to the white resistance zone between $11.64 and $12.70. I think this will turn into a pump and dump before RIVN trends back down. I think $10 and under is a great place to buy RIVN as a longer term investment. Right now there’s too much hype around tech, EV and healthcare stocks are getting heavily overlooked despite their low prices.

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