Rivian Automotive Stock Forecast
A very strong day for Rivian Automotive stock price on Friday
(Updated on Apr 26, 2024)
The Rivian Automotive stock price gained 6.10% on the last trading day (Friday, 26th Apr 2024), rising from $8.52 to $9.04. During the last trading day the stock fluctuated 6.35% from a day low at $8.50 to a day high of $9.04. The price has risen in 6 of the last 10 days but is still down by -0.99% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 28 million shares were bought and sold for approximately $253.45 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $8.54, a level that may pose a second chance to hit a runner. According to fan-theory $12.50 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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RIVN Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 7.62%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Rivian Automotive stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.30. On a fall, the stock will find some support from the short-term average at $8.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 $8.79 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.540 between high and low, or 6.35%. For the last week, the stock has had daily average volatility of 5.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RIVN) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Rivian Automotive, Inc. to open at $8.86, and during the day (based on 14 day Average True Range), to move between $8.47 and $9.61, which gives a possible trading interval of +/-$0.574 (+/-6.35%) up or down from last closing price. If Rivian Automotive, Inc. takes out the full calculated possible swing range there will be an estimated 12.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.79 (2.77%) than the resistance at $9.57 (5.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rivian Automotive, Inc. stock A Buy?
Rivian Automotive holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.405 Sell Candidate Unchanged
Predicted Opening Price for Rivian Automotive, Inc. of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$8.86 ( 1.99%) | $9.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RIVN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.40 | 3.98 % | |
R2 | 9.19 | 1.70 % | ||
R1 | 9.07 | 0.291 % | ||
Current price: | 9.04 | |||
Support | S1 | 8.65 | -4.27 % | |
S2 | 8.53 | -5.68 % | ||
S3 | 8.32 | -7.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.70 | 18.36 % | |
R2 | 10.07 | 11.39 % | ||
R1 | 9.57 | 5.86 % | ||
Current price | 9.04 | |||
Support | S1 | 8.79 | -2.77% | |
S2 | 8.71 | -3.65% | ||
S3 | 8.40 | -7.08% |
FAQ
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