Resistance

Verge

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>RIVN&nbsp; stock price surged 1.25% in the last trading session and is currently trading at $21.04.</a> </li> 
 <li> <span>2</span> <a>Rivian Automotive’s (NYSE: RIVN) quarterly earnings triggered a sell-off wiping out nearly 15% of the value in the last week.&nbsp;</a> </li> 
</ul> 
<p>RIVN stock price was in a downtrend from March 2023 to June 2023, trading in a narrow range of about 25% near its lowest level ever. However, in July 2023, the price soared 50% and broke out of the range, indicating a change in the long-term trend to bullish.</p> 
<p>Before the earnings report, the price was in a consolidation phase near the high of the previous rally. The earnings report triggered a sell-off, as the price dropped more than 15% in the last week.</p> 
<p>Analysts suggest that price may undergo a correction mode, after a strong uptrend and a consolidation phase. The price may find support or resistance at different levels, depending on the market sentiment and future news.</p> 
<p>Rivian Automotive (NYSE: RIVN) is a company that creates responsible packaging for various products, such as food, beverage, medicine, and personal care. It uses flexible and rigid materials, as well as specialty cartons and closures to help its customers protect their products and make their brands stand out.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/v2P_mIXTJLU1gRFlMANNuT0tpoqT9AE9S4NLT1qOulgOqQIYTugvYwc6gMZ8LAohZfUKidfSkTtfEwfT6D9AvkzuJg57MoYlWO0PpJP2GHk_rjZwvT3M6RGxhC7NFQCAFmwb4OizRCkqudPOJ_HlBg" alt="RIVN Stock Price Prediction: Rivian At The Verge Of Make Or Break?"> 
  <figcaption class="wp-element-caption">
    Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>RIVN stock option-chain analysis states that the current implied volatility in the market is 66.96% with an increment of 1.35% in the last trading session. The at-the-money strike price has 9,192 open contracts on the put side and 2,562 open contracts on the call side indicating the dominance of buyers at the current level. The PUT/CALL ratio is 0.73 indicating that call writers dominate the market as per the data.</p> 
<h2 class="wp-block-heading" id="strong-rivn-stock-price-may-take-a-rebound-from-the-support-zone-strong"><strong>RIVN Stock Price May Take A Rebound From The Support Zone</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/ibF8cqTEkF2YwynjE1dYQGZPbI1RAyMYGJU6v6lL_73kyfudn4GbPK_hKfRefHe8_SdJ1pjhRPgJb_ynXefkzTRyXuGJwOOqA5jBgu9xtnJ6cQuX8vljaQY-wmR9AKKGH2s3NcW_Gw9mUVvA8dkyvw" alt="RIVN Stock Price Prediction: Rivian At The Verge Of Make Or Break?"> 
  <figcaption class="wp-element-caption">
    Source: Rivian Automotive 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/07/28/rivian-stock-is-rivn-stock-price-looking-exhausted-near-27-00/" rel="noopener noreferrer nofollow">The RIVN stock price</a> currently trades at $21.04 and trying to settle its volatility caused by the disclosure of the results.&nbsp;</p> 
<p>The short-term trend for the stock is currently neutral to mild bullish as the price is trying to sustain itself above the recent support. If the price succeeds in maintaining above the support then it may show some upside moves in the coming trading sessions.&nbsp;</p> 
<p>The price has turned its long-term trend to bullish and remain the same until the price trades above the previous breakout zone. The price may show some drawdowns in the short term but may receive buying volume at the lower levels to surge higher.</p> 
<h3 class="wp-block-heading" id="strong-the-emas-showing-a-golden-crossover-on-the-daily-chart-strong"><strong>The EMAs Showing A Golden Crossover On the Daily Chart.</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/ia3r01rkc9mBtzC5HO6qGVypd2TMeeDz7oSsMOTWKDDwBbpNRdKRSdIS6OFIrkA-LuO-Q6D2iH7Cz1bNAdLcD-ZUP7Rx8VT_uQQoMLB4cZIxQc1tKZJO7_X1hutIhvCVSmd-7ErKZhSCRlMVcvx4GQ" alt="RIVN Stock Price Prediction: Rivian At The Verge Of Make Or Break?" style="width: 100%;height:546px" width="1170" height="546"> 
  <figcaption class="wp-element-caption">
    Source: Rivian Automotive 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily RIVN stock price chart shows that the price is trading above the 50 and 200 EMA indicating a bullish trend prevailing in the market. The overall Technical Opinion rating including RSI and MACD is signaling a 56% buy with a weakening short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/07/28/rivian-stock-is-rivn-stock-price-looking-exhausted-near-27-00/" rel="noopener noreferrer nofollow">RIVN stock price prediction</a> concludes that the stock price was in a downtrend until July 2023, when it surged 50% and turned bullish. The earnings report caused a sell-off and a 15% drop in the last week. The price is now volatile and trying to stay above the support level. The short-term trend is neutral to mildly bullish, while the long-term trend is bullish until the price falls below the breakout zone. The price may fluctuate depending on the market sentiment and news.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $20.03 and $16.22.</li> 
 <li><strong>Resistance levels:</strong> $27.9 and $32.3.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

RIVN Stock Price Prediction: Rivian At The Verge Of Make Or Break?

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 17, 2023

Safe Wallet Provider Now Offers P2P.org’s Ethereum Staking App, Expanding User Options

Reserve Bank of Australia: Stablecoins can play an important role in the financial system

SEC’s ETF Decision Could Propel Bitcoin Price Beyond $150K

Revolutionizing Web2 & Web3 Marketing: PerxPal & FLOLiO’s Attribution Tracking Success Story

Bitcoin Dips Due to Cautious FOMC Minutes

World’s Largest Web3 Event TOKEN2049 Singapore Hits 300 Sponsor Milestone, Announces New Headline...

Join our free newsletter for daily crypto updates!