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Rivian Automotive Stock Forecast: RIVN breaks above $16 resistance threshold ahead of earnings

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Rivian (RIVN) stock made it back above $16.00 per share on Tuesday for the first time since February 21 — nearly five months ago when an earnings release sent Rivian stock reeling.

Rivian stock reached an intraday high above $16 on Tuesday for the first time in nearlyfive months. Rivian has been benefiting of late from its software partnership with Volkswagen. Tesla's upcoming debut of its RoboTaxi is also lendingEV stocks a tailwind. Morgan Stanley has a $33 price target on

, which forecasts a 100% gain over the next year. Rivian stock made it back above $16.00 per share on Tuesday for the first time since February 21 — nearly five months ago when an earnings release sent Rivian stock reeling. Rivian is benefiting from renewed interest in electric vehicle leader Tesla , as well as its own partnership with Volkswagen and upcoming earnings announcement several weeks away.

stock found support and then resistance in August 2023 through the beginning of 2024. Another possibility is $24.00, where its rally petered out back in December 2023. daily stock chart

 

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