The price of Rivian Automotive (RIVN) on July 5, 2024, cannot be determined using AI, momentum, and fundamentals as there are no available data points for the price on that specific date.
However, based on the available information, here are some insights into RIVN's price projection:
- Technical Indicators: The stock's technical indicators show a mixed picture. The MACD is at 0.68, indicating a positive trend, while the RSI is at 67.43, suggesting the stock is neither overbought nor oversold. The KDJ is at 69.4, which could indicate an overbought condition in the short term.
- Support and Resistance Levels: The current support level for RIVN is at $13.95, and the resistance level is at $15.18. These levels can act as price barriers, with the support level being where the price tends to find a floor, and the resistance level being where the price has difficulty breaking through a ceiling.
- Volume and Turnover: The trading volume was 85.07 million shares with a turnover rate of 8.81%, which indicates significant investor interest and potential price volatility.
- Analyst Ratings and Price Targets: Analysts have set an average 12-month price target of $14.57, representing a 30.21% upside from the last price of $11.19. This suggests that analysts are generally optimistic about the stock's future performance.
- Long-term Predictions: According to a forecast, the RIVN stock price is predicted to rise by 2.86% and reach $11.51 per share by May 20, 2024. Long-term predictions for 2025 and beyond show a downward trend, with the stock price predicted to decrease by as much as 67.67% by 2030.
- Earnings and Growth: The company's net profit margin is -120.1%, indicating that it is currently unprofitable. The total revenue year-on-year growth rate is 82.15%, which is quite high and could suggest strong future growth potential, assuming the company becomes profitable.
In conclusion, while the specific price on July 5, 2024, is unknown, the available information suggests that RIVN's price is likely to be influenced by its technical indicators, support and resistance levels, trading volume, and analyst expectations. The stock's long-term projections show a mixed picture, with potential for growth in the short term but a more cautious outlook for the longer term.
7/2/2024 09:19pm
