Verified Investing on $RIVN (Nov 4, 2026)
Rivian rallied back into its April-2024 parallel channel after earnings, with resistance around $16 on a former support trend line. Its setup requires a daily close above $13.84 inside the channel plus continued strength over the next two trading days so the channel bottom becomes support.
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We see Rivian, after announcing its earnings this week, has risen directly from the bottom. Today, we see a strong push that brings the price back into this parallel channel, within which the price has been confined since April 2024.
You can see that I have already identified a level that will act as the next resistance. This level lies on the upward trend line that served as support for a long time before the price broke it.
You can be sure that when the price returns to that trend line , there will be a lot of sellers at around the $16 level, and with a slight breakout of that level, you will see significant resistance .
The key point here for Raven stock today is: Will we close above and inside this parallel channel? The key level to achieve that today is $13.84.
If that happens and you are optimistic about this chart, you will want to see the price move back above its high for the day as soon as possible with a daily close in that range.
In this way, we provide space that allows the bottom of the channel to transform from resistance to support. So, you want to see both things happen. First, the closing price today is within the channel, and second, the movement continues during the next two trading days, allowing for the formation of an area at the bottom of that parallel channel.
Watchpoints
What this channel has said about $RIVN
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