Rivian's Technical Setup Signals Strength Ahead Of Q4 Earnings

Rivian Automotive Inc RIVN will be reporting its fourth-quarter earnings on Thursday. Wall Street expects a loss of 65 cents per share and $1.40 billion in revenues as the company reports after market hours.

The stock is down 11.42% over the past year, up 6.23% YTD.

Let’s look at what the charts indicate for Rivian stock and how the stock currently maps against Wall Street estimates.

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Rivian Stock Strongly Bullish Ahead Of Q4 Earnings

Rivian stock is displaying strong bullish momentum, with its share price currently trading above key moving averages. The stock is positioned above its five-day, 20-day and 50-day exponential moving averages, indicating sustained buying pressure.

Chart created using Benzinga Pro

At $14.11, Rivian stock is well above its eight-day simple moving average of $13.28, its 20-day simple moving average of $12.91 and its 50-day simple moving average of $13.56, all reinforcing a bullish trend.

Additionally, the stock remains above its 200-day simple moving average of $12.63, confirming strength in the long-term uptrend.

Momentum indicators also support the bullish outlook. The Moving Average Convergence Divergence (MACD) indicator stands at 0.12, signaling positive momentum. Meanwhile, Rivian stock's Relative Strength Index (RSI) is at 58.51, suggesting the stock is nearing overbought levels but still has room for further gains.

As long as Rivian stock holds above these key technical levels, the bullish trend remains intact.

Rivian Analysts See 2% Downside

Ratings & Consensus Estimates: The consensus analyst rating on Rivian stock stands at a Buy currently with a price target of $15.87. The latest analyst ratings from Barclays, UBS and Truist Securities give Rivian a $14 target.

RIVN Stock Price Action: Rivian stock was down 2.39% at $14.11 at the time of publication Wednesday.

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