Golden Cross Alert: Rivian Breaks Out, Even As Nio Outsells It 10-To-1

While electric vehicle investors fixate on Tesla Inc's TSLA margins, Rivian Automotive Inc. RIVN has quietly pulled off a bullish technical feat — a Golden Cross.

Chart created using Benzinga Pro

That's when the 50-day moving average rises above the 200-day average, often interpreted as a breakout signal. But here’s the kicker: the fundamentals haven't quite caught up.

Rivian stock is currently trading at $15.91, riding above its eight-day ($15.78), 20-day ($14.45), 50-day ($12.79) and 200-day ($12.47) moving averages — all flashing Bullish signals. Add a MACD (moving average convergence/divergence) indicator of 1.05 and an RSI (relative strength index) of 65.56, and technically, the EV underdog is heating up.

Read Also: Rivian’s Software Chief Hails Volkswagen Partnership, Says German Automaker Gained ‘Startup DNA’ Ahead Of Budget EV Launch

Tesla Vs. Nio Vs. Rivian — Valuation, Deliveries Don’t Align

But Rivian's momentum on the chart comes with a reality check. In the first quarter, Rivian produced 14,611 vehicles and delivered 8,640, in line with its conservative guidance.

Meanwhile, China's Nio Inc NIO delivered 42,094 vehicles — nearly five times more — and yet, Nio's $8.7 billion market cap is less than half of Rivian's $18.3 billion.

Then there's Tesla, the EV apex predator. With 336,681 deliveries last quarter, Tesla outsold Nio by nearly 8x and Rivian by an eye-watering 39x. Yet, its valuation towers at $1.11 trillion — more than 100 times Nio's.

So, what's driving Rivian's technical breakout?

Part optimism, part short squeeze, and part hope that its recent efficiency gains at its Normal, Illinois plant might translate into a more scalable business. But the valuation gap with Nio, in particular, should give investors pause — especially when Nio delivers more cars and has stronger China demand tailwinds.

For now, traders riding the Golden Cross wave have reason to stay onboard — but for long-term investors, Rivian's rally may need to be backed by more than just moving averages.

Read Next:

• Jim Cramer: Rivian Better Than This Automaker, Pan American Silver Is The ‘Best Silver Mine’

Image: Shutterstock