Rivian Automotive, Inc. is involved in the design, development, and in production of electric vehicles and accessories.
Rivian Earnings Results
Rivian Automotive, Inc. might report negative earnings as analysts expected an earnings per share of -$1.34 per share, and the revenue was expected at $1.321 Billion.
The earnings report is expected to strongly influence price movement. If the earnings numbers are better than expectations, then the stock price will surge sharply but if the company misses the expectations, then the RIVN stock price might see new lows.
Current Stats of RIVN Stock
At press time, Rivian stock was trading at $16.22 with an intraday gain of 3.18% showing bullishness on the charts. Moreover, the intraday trading volume is 42.227 Million more than the average 10-day volume of 31.667 Million. The market cap of Rivian stock is $15.382 Billion (press time).
The company’s performance has been dismal so far. It showed negative returns of 14.18% year-to-date, 38.61% in the last three months, 30.83% in the last month, and 6.24% in the last week. This shows a persistent bearish trend.
Reading the Rivian Stock Price Charts For 2023
Rivian stock price has been on a downtrend for a prolonged time, facing resistance from the higher levels and forming lower lows. This shows that the bears have been in control and that the stock has lost momentum. The stock has also broken below the key moving averages, which indicates further weakness.
Rivian (NASDAQ: RIVN) stock has returned to its previous breakout level, which could act as a support. Technical analysis suggests that the stock is oversold and could bounce back from the lower levels. The stock needs to show signs of strength and reversal before a pullback rally can be confirmed.
Rivian stock (NASDAQ: RIVN) price is in a correction phase but near the crucial support of $15. If formed, a bullish candle indicates buyers are active and will try their best to rebound. RIVN stock price closed the previous session at $16.22 with an intraday rise of 3.18%. If the buyers succeed in defending the current support, then the possibility of a bounce back will increase. However, if the sell-off continues and Rivian stock drops below lower levels, more downfall is possible.
Buyers tried multiple times to break the higher range and expand upwards. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels.
Reading the Rivian Stock Price Charts For 2024
Rivian price is trading below the downward-sloping 50-day and 100-day EMA showcasing a downtrend. However, the Rivian price has gone far away from the EMAs.
The MACD shows a negative crossover. The current value of RSI is 42.46 points. The 14 SMA is above the median line at 50.97 points which indicates that the Rivian stock is bearish.
Reading the Rivian Stock Price Charts For 2025
Rivian stock has shown sellers’ strength on the monthly charts. Moreover, the price is below the key EMAs, which shows further weakness in the stock. The RSI curve is near the oversold region at 21, and a negative outlook was noted, indicating bearishness in the stock. The MACD indicator shows red bars, and a bearish crossover was noted, which signals corrective moves.
Anaysts’ Take on RIVN Stock
Overall, there is a strong buy among 25 analysts who follow Rivian stock. 15 of them rate Rivian as a ‘Strong Buy,’ while 2 gave it a ‘Buy’ rating. 6 of the analysts recommend to ‘Hold’ the stock, and 1 of them advise selling it. Only 1 of the analysts have a ‘Strong Sell’ rating for Rivian.
Rivian stock has an average price target of $28.05, which implies a potential increase of 72.91% from its current price of $16.22. The price targets vary from a high of $44.00 to a low of $15.00.
Market Trend For Short-Term
Rivian stock (NASDAQ: RIVN) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downturn may continue in the RIVN stock price. Rivian price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.
Technical Levels For Short-Term
Support Levels: $13.30 and $10.00
Resistance Levels: $21.95 and $20.11
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/01/rivian-stock-prediction-2024-can-rivn-dominate-the-ev-market/