Rivian seems like it has formed a slight base of support. Currently trading at around $14.87 a share with the support base below at $11.68.

Taking a look at Rivian as it seems like it has formed a slight base of support. Currently trading at around $14.87 a share with the support base below at $11.68 (green trendline). The price has been in a bullish trend since the 15^th of May and is now approaching resistance at $15.72 (upper white trendline). A break above the trendline could see the price edge higher towards $17.73. Towards the downside, support sits at $14.43, which is along the rising white trendline. A break below this point could see the price fall lower towards $13.60 and then $12.55. Looking at the technical indicators, MACD is still positive and so is the RSI as it reads 61. Although, the RSI has retraced slightly after almost entering ‘overbought’ territory.