Rivian Stock Surged Today: Here's Why It Could Keep Soaring

Rivian (NASDAQ: RIVN) stock is trading above its 10-day, 20-day, and 50-day exponential moving averages (EMAs), indicating an upward trend. The 10-day EMA is acting as a dynamic support level, while the 50-day EMA is acting as a long-term trend line.

The stock is also above its 200-day simple moving average (SMA), which is a bullish sign. However, the stock is below its 100-day EMA and SMA, which could act as resistance levels in the future. The relative strength index (RSI) is at 58.7, which is neither overbought nor oversold.

The moving average convergence divergence (MACD) is positive and above its signal line, which is a bullish sign.
Rivian is also trading above its pivot point of $17.76, which is a bullish sign. The next resistance levels are at $18.69, $19.35, and $20.28. The next support levels are at $17.10, $16.17, and $15.51.

Rivian stock is in a strong uptrend and has positive momentum. However, some of the oscillators are indicating that the stock is overbought and could face a correction in the near term.