To The Moon

The Rivian Automotive $Rivian Automotive, Inc.(RIVN)$ stock price gained 2.19% on Friday, 25th Aug 2023, rising from $19.64 to $20.07. During the last trading day the stock fluctuated 3.86% from a day low at $19.57 to a day high of $20.33. The price has fallen in 6 of the last 10 days and is down by -6.95% for this period. Volume fell on the last day by -2 million shares and in total, 17 million shares were bought and sold for approximately $338.50 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $19.82 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 56.05% during the next 3 months and, with a 90% probability hold a price between $30.93 and $48.47 at the end of this 3-month period.

RIVN Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Rivian Automotive stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.43 and $23.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, July 31, 2023, and so far it has fallen -27.39%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Rivian Automotive stock

Rivian Automotive finds support from accumulated volume at $19.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.755 between high and low, or 3.86%. For the last week, the stock has had daily average volatility of 4.72%.

Rivian Automotive is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RIVN) For The Trading Day Of Monday 28th

For the trading day on Monday, 28th we expect Rivian Automotive, Inc. to open at $19.99, and during the day (based on 14 day Average True Range), to move between $18.69 and $21.45, which gives a possible trading interval of +/-$1.38 (+/-6.87%) up or down from last closing price. If Rivian Automotive, Inc. takes out the full calculated possible swing range there will be an estimated 13.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $20.43 (1.79%) than the support at $19.56 (2.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Insiders are very negative selling more shares than they are buying in Rivian Automotive

In the last 100 trades there were 740.9 thousand shares bought and 31.84 million shares sold. The last trade was made 7 days ago by Krafcik John who bough 18.47 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.

Is Rivian Automotive, Inc. stock A Buy?

The Rivian Automotive stock holds several negative signals and despite the positive trend, we believe Rivian Automotive will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.