Will rivn go up today

**Rivian's stock (RIVN) is likely to face upward pressure today**, considering the following points:

1. **Recent Positive Developments**: Rivian has seen significant positive developments, including a major investment from Volkswagen (VWAGY) and a series of bullish analyst ratings. The investment from Volkswagen, expected to provide up to $5 billion in funding, has been a game-changer for Rivian, providing a critical lifeline and the opportunity to target a broader market segment with its upcoming R2 vehicle.
2. **Stock Reaction to Volkswagen Investment**: Following the announcement of the Volkswagen investment, Rivian's stock has surged by 36% over the past five trading sessions. This strong momentum is likely to continue, as the partnership with Volkswagen is expected to jumpstart Rivian's software development capabilities and enable it to compete more effectively with other EV manufacturers.
3. **Technical Indicators**: The stock's technical indicators show positive momentum. The MACD (Moving Average Convergence Divergence) is at 0.63, which typically indicates a positive trend. The RSI (Relative Strength Index) is at 78.16, suggesting that the stock is currently overbought but not excessively so. The KDJ (Stochastic Oscillator) is at 88.38, which is considered overbought but not extreme, and these values generally point to a bullish sentiment.

|Ticker|Name|MACD|Date|code|market_code|
|---|---|---|---|---|---|
|RIVN.O|Rivian Automotive|0.6329|20240710|RIVN|185|

4. **Analyst Price Targets**: The average 12-month price target from analysts is $17.39, with a high forecast of $25.00 and a low forecast of $8.00. This suggests that there is potential for the stock to appreciate further, given its current price.
5. **Market Sentiment**: The sentiment around Rivian has been increasingly positive, with analysts expressing optimism about the company's growth trend and potential upside. This positive sentiment can often lead to increased buying activity, which could drive the stock price up.
6. **Support and Resistance Levels**: The stock is currently trading near its 5-day moving average of $15.36 and its 10-day moving average of $14.83, which can act as support levels. The resistance level is at $16.23, which the stock may face as it attempts to move higher. Breaking through this level could signal a continuation of the upward trend.

In conclusion, while there may be some volatility, the combination of positive developments, strong technical indicators, and bullish analyst sentiment suggests that Rivian's stock has the potential to go up today and potentially beyond. However, investors should monitor the stock's performance against the resistance level and broader market conditions.