Rivian Automotive, Inc. (NASDAQ:RIVN) may be preparing its biggest challenge yet to Tesla, Inc. (NASDAQ:TSLA), but the stock chart is flashing warning signs instead.
Chart created using Benzinga Pro
Shares of Rivian have formed a Death Cross — a bearish technical pattern that occurs when the 50-day moving average falls below the 200-day moving average — as investors continue debating whether the company's upcoming R2 crossover can meaningfully revive growth and narrow Rivian's long-running profitability concerns.
The setup creates an awkward moment for Rivian bulls. The company is heading into what many investors see as its most important product cycle yet, while the stock's technical picture continues to weaken.
Rivian Death Cross Signals Weak Momentum
