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ThecoinrepublicStockRivian Automotive Inc: Why RIVN Stock Is...
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Rivian Automotive Inc: Why RIVN Stock Is In Huge Problem? 

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Rivian Automotive Inc., RIVN stock is in huge trouble due to some recent institutional decisions that may prove wrong. RIVN share price has been caged inside the horizontal range-bound area over the daily time frame chart. However, RIVN shares are currently trading near the lower price range of the consolidation phase. Rivian stock price has been struggling to gain significantly due to losses. 

Even though the losses are increasing, Rivian is considering their savior to be the debt market. However, raising money from the debt market is risky and may affect the current market value of the company. Rivian Automotive Inc. has been a reliable electric vehicle manufacturing company since the time it entered public markets, but it kept on running into bigger and consistent problems. Burning more and more money in operations led Rivian to think of opening another manufacturing plant to maintain the cash flow. 

RIVN stock price was at $19.30 and lost slightly around 0.16% of its market capitalization during Friday’s trading session. Trading volume (29.36M) was below the average (66.563M) and needs to grow during Monday’s trading session. This demonstrates that buyers need to accumulate at a higher rate in order to push RIVN upwards. 

Will RIVN Stock Skip Consolidation?      

Rivian Automotive Inc: Why RIVN Stock Is In Huge Problem? 
Source: NASDAQ: RIVN by TradingView

RIVN stock price has been consolidating inside the horizontal range-bound area since August 2023. Now, buyers need to accumulate at a higher rate in order to push RIVN shares upwards. Meanwhile, RIVN share has been trying to break out from the consolidation phase but failed to sustain at the upper threshold. RIVN shares slipped below the 20, 50, 100, and 200-day daily moving averages.

RIVN stock price increased by approximately 8.89% in the past week but declined by 16.99% over the course of a month. Over the last three months, Rivian experienced a decrease of 23.87%, but its performance over the past six months showed an impressive gain of about 44.14%. Notably, Rivian’s stock saw a slight surge of 2.12% year to date.

Technical indicators highlight the sideways momentum of Rivian stock. The relative strength index confirms the consolidation phase of RIVN shares. RSI was at 40 and is flat below neutrality. Investors in Rivian Automotive Inc. (NASDAQ: RIVN) need to wait for any directional change over the daily time frame chart.

Summary

Rivian Automotive Inc. RIVN stock is in huge trouble due to some recent institutional decisions that may prove wrong. Even though the losses are increasing, Rivian is considering their savior to be the debt market. Meanwhile, RIVN share has been trying to break out from the consolidation phase but failed to sustain at the upper threshold. Technical indicators highlight the sideways momentum of Rivian stock.

Technical Levels

Support Levels: $18.63 and $17.78

Resistance Levels: $21.08 and $24.88

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Nancy J. Allen
Nancy J. Allen
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and a minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
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