EV Maker Rivian Navigates Death Cross Ahead Of Q4 Earnings

Electric vehicle (EV) manufacturer Rivian Automotive Inc RIVN will report its fourth-quarter (Q4) earnings on Wednesday, Feb. 21.

Wall Street expects a negative $1.32 in EPS and $1.26 billion in revenues as the Irvine, California-based company reports after market hours.

Rivian, a Tesla TSLA rival, focuses heavily on innovation and sustainability in the automotive industry. But its stock has seen ups and lows over the past year and is down over 21% over one year.

Let’s look at how the stock is currently placed ahead of Q4 earnings.

Technical Setup

Per the technical setup of Rivian stock’s price chart, the current trend appears relatively stagnant, with slight selling pressure. The 50-day simple moving average (SMA) stands at $18.32, classifying it as a Sell, and the 200-day SMA is $18.97, reinforcing the Sell signal.

The 50D SMA crossing under the 200D SMA is referred to as a Death Cross — a bearish indicator of the expected price trend moving forward. For Rivian, the Death Cross formed on Feb. 1.

The 50-day and 200-day exponential moving averages (EMA) at $17.53 and $19.91, respectively, are further supporting the Sell signal.

The Moving Average Convergence Divergence (MACD) indicator stands at -0.74, suggesting a Sell. The Relative Strength Index (RSI) is 48.08, indicating that Rivian Automotive is oversold.

Additionally, analyzing the Bollinger Bands, the 25-day bands ($15.15 – $16.69) and the 100-day bands ($15.6 – $21.04) both suggest a Sell.

Overall, the technical setup for Rivian Automotive stock presents Sell indications across various moving averages and indicators.

Also Read: What’s Going On With Rivian Stock?

Rivian Analysts Consensus Ratings

Ratings & Consensus Estimates: Consensus analyst ratings on Rivian stock stand at a Buy currently with a price target of $23.46. However, Barclays recently (Feb. 12) downgraded the stock to Equal Weight from Overweight and reduced their price target from $25 to $16 a share.

RIVN Price Action: Rivian stock was trading at $16.30 at the close of market day on Feb. 16.

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