Section 1: Company Fundamentals

Rivian Automotive, Inc. (NASDAQ: RIVN) is a manufacturer of electric vehicles (EV). The Company is engaged in designing, developing, and manufacturing EVs and accessories. It sells vehicles directly to customers in the consumer and commercial markets. The Company’s services include digitally enabled financing, telematics-based insurance, proactive vehicle membership and software services, charging solutions, and a data-driven vehicle resale program. It also offers FleetOS, a centralized fleet management subscription platform.

Kalkine’s US Daily Report covers the Company Overview, Summary Table, Key positives & negatives, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Stock Performance:

• The stock has corrected by 28.73% in the last three months as well as by 58.00% in the last six months.
• The stock is leaning towards the lower band of its 52-week range of USD 40.86 and 52-week low price of USD 11.68. The price is currently closer to its important support range of USD 11.50-USD 12.50.
• The price is currently trading between both its short-term (50-day) SMA and long-term (200-day) SMA, with the current RSI of 53.73, with the expectation of an upward movement.

1.2 The Key Positives & Negatives

Section 2: Rivian Automotive, Inc. (“Speculative Buy” at USD 13.84, the closing market price as of May 11, 2023)

2.1 Company Details    

2.2 Stock Recommendation

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is May 11, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.

Disclaimer

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