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Wajeeh Khan

Rivian Stock Just Surged Above Its Key Support Levels. Should You Chase the Rally Here?

Rivian EV RIVN UBS Joseph Spak Rivian Automotive

Rivian Automotive (RIVN) shares closed more than 25% higher on Friday after the electric vehicle (EV) maker’s better-than-expected Q4 helped it record its first annual gross profit.

RIVN pushed past all of its major moving averages (50-day, 100-day, 200-day) as investors reacted to its $1.29 billion quarterly revenue signaling the bullish momentum will sustain in the near term.

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