Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Rivian stock price is below the key moving averages.</a> </li> 
 <li> <span>2</span> <a>Sellers have gained momentum, RIVN stock looks aggressive.</a> </li> 
</ul> 
<p>Rivian stock price has been struggling to break above the key resistance levels. Currently, Rivian shares need more buyers to support an upward movement toward recovery. However, the trading volume is low, which indicates a lack of interest and momentum. At the same time, Rivian shares have broken below the 20, 50, 100, and 200-day daily moving averages, which are bearish signals.</p> 
<p>Rivian stock price lost 21.52% last week; it fell by 19.74% in the month. Moreover, RIVN shares witnessed a decline of about 0.63% year to date and a plunge of 47.41% over the past year. These trends collectively show the challenges faced by Rivian shares in their recovery efforts throughout the year.</p> 
<p>Technical indicators highlight the downtrend in Rivian stock price. Relative strength index (RSI) and the moving average convergence divergence (MACD) both indicate the slippage in Rivianshare price.</p> 
<p>The price at present requires substantial support from the buyers in order to make a recovery as it is facing major resistance from the previous resistance points and multiple moving average levels. Buyers are pulling the price action into their grasp, according to the candlestick patterns.</p> 
<p>The price may soon attempt to make a bullish recovery. However, as it is trading below the key EMA levels, the buyers will have to face multiple resistance levels in order to attain the target. Buyers are presently making continuous efforts to retake charge of the trend.</p> 
<p>On the daily charts, Rivian stock shows sellers’ dominance as it slipped below neutrality, showing a negative outlook. Moreover, the price dropped below the 50% Fib level near the lower Bollinger band.</p> 
<p>Overall, the technical indicators and price action suggest that Rivianstock is bearish and that the downtrend is likely to continue.</p> 
<h2 class="wp-block-heading" id="strong-technical-evaluation-of-rivian-stock-price-strong"><strong>Technical Evaluation of Rivian Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1433" height="652" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-302.png" alt="Rivian Stock Price in Bears’ Grip: Will RIVN Stock Rebound?" class="wp-image-174938" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-302.png 1433w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-302-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-302-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-302-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-302-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-302-1140x519.png 1140w" sizes="(max-width: 1433px) 100vw, 1433px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/NGFWYnlM/">Tradingview</a>
  </figcaption>
 </figure>
</div> 
<p>At the time of publishing, Rivian <a href="https://www.thecoinrepublic.com/2023/10/05/rivn-stock-price-surges-10-will-rivian-stock-rally-to-28/" target="_blank" rel="noreferrer noopener">stock</a> (NASDAQ: RIVN) was below the 50 and 200-day SMAs (simple moving averages), which are supporting the price trend.&nbsp;The current value of RSI is 38.23 points. The 14 SMA is above the median line at 46.28 points which indicates that the Rivian stock is bearish.</p> 
<p>The MACD line at -0.6857 and the signal line at -0.2145 are below the zero line. A bearish crossover is observed in the MACD which signals more bearishness for the RIVN stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Rivian stock (NASDAQ: RIVN) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are highlighting negative signs and imply that the downtrend might continue in the RIVN stock price. Rivian price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $16.35 and $13.30</p> 
<p>Resistance Levels: $19.62 and $24.78</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

Rivian Stock Price in Bears’ Grip: Will RIVN Stock Rebound?

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