Auto

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Rivian has seen beating delivery estimates on resilient demand.</a> </li> 
 <li> <span>2</span> <a>The RIVN share has surged by 3.55% in the last trading session.</a> </li> 
</ul> 
<p>Rivian is grounded in Irvine, California, with its manufacturing factory in Normal, Illinois. It also has other installations in Palo Alto, Carson, Plymouth, Vancouver, Wittmann, and Woking. Rivian has over 14,000&nbsp; workers and has raised over$13.5 billion in backing from investors similar to Amazon, Ford, T. Rowe Price, Cox Automotive, and BlackRock. Rivian went public in November 2021 with an original public immolation (IPO) that valued the company at around$ 60 billion. Rivian is one of the leading challengers in the electric vehicle sector, along with Tesla, Lucid Motors, and Nio.&nbsp;</p> 
<p>The average number of RIVN shares traded per day is 48.04M, out of a total of 659.352M shares available in the market. The RIVN stock has a high beta of 2.7, which means it is more volatile and tends to move more than the overall market.</p> 
<p>The company’s gross profit declined by more than 35% to -$475.00M in Q2 2023, and the revenue has advanced by 208.0% compared to the same quarter in the last year. The RIVN company’s return on assets also fell by -39%, and its long-term debt has advanced by 101.1%.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-rivn-stock-performance-analysis-strong"><strong>RIVN Stock Performance Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" loading="lazy" width="617" height="210" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1028.png" alt="" class="wp-image-172338" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1028.png 617w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1028-300x102.png 300w" sizes="(max-width: 617px) 100vw, 617px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://in.tradingview.com/symbols/NASDAQ-RIVN/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>The company has made a total revenue of $1.66B and the net income has declined by more than $10.0B for the year 2022. The profit margin of the company is highly negative resulting in -407.24%. This company’s fundamentals look very poor but the company is at its initial stage, therefore we must have some patience.</p> 
<h3 class="wp-block-heading" id="strong-technical-summary-of-rivn-stock-strong"><strong>Technical Summary of RIVN Stock</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="263" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1027-1024x263.png" alt="" class="wp-image-172337" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1027-1024x263.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1027-300x77.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1027-768x197.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1027-750x193.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1027-1140x293.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1027.png 1265w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div> 
<p>On the daily timeframe, the share price is advancing on charts following bullish technicals on the chart. The fundamentals of the company are sustainable and uncertain as the company is new in the market. Therefore, the technicals are bullish on the stock and the experts are bullish on the stock.</p> 
<h2 class="wp-block-heading" id="strong-rivn-share-technical-analysis-strong"><strong>RIVN Share Technical Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1026-1024x464.png" alt="" class="wp-image-172336" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1026-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1026-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1026-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1026-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1026-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-1026.png 1281w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : RIVN: 1D: NASDAQ
  </figcaption>
 </figure>
</div> 
<p>The RIVN stock is rising after breaking above the previous peak and finding support there. The stock may continue to go up to higher levels as it is making higher-high patterns on the charts.</p> 
<p>The stock has gone up above the 50-day and the 200-day Exponential Moving Average, which crossed downward after the previous trend. It shows that the stock has a strong upward momentum.</p> 
<p>The RSI of the RIVN stock has bounced back from the lower levels after touching the overbought zone, which shows a bullish momentum. The RSI has also crossed above the 50 level, which is a further indication of the trend’s power.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The<a href="https://www.thecoinrepublic.com/2023/09/29/lazr-stock-near-4-luminar-stock-short-sellers-be-careful/" target="_blank" rel="noreferrer noopener"> Rivian Automotive stock </a>is in an upward trend after forming a bullish market structure. Technical indicators like EMA and RSI are also showing bullish signs. The stock’s fundamentals may seem negative, but the company is new and has recently launched its product. So, it may take some time to stabilize.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Support levels for the RIVN share are – $11.80 and $19.50</li> 
 <li>Resistance levels for the RIVN share are – $28.00 and $35.20</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.</p>

Can RIVN Be the Next Multibagger and a Large Cap Auto Stock?

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