Rivian is peering to re-gain the $120 level relinquished on the big stock market falls seen on Black Friday. The electric vehicle stock is selling on the green pre-market, about to clear above $114 after having lockdown last week at $112.13.
Rivian can be deciphered to have underperformed on Friday as severe panic gripped global stock markets.
The motivation was the emergence of a new problem of Covid in South Africa which may be more transferable than delta and also able to avoid the recent suite of vaccines.
Oil plummeted nearly 12% one of its largest one-day falls ever. Stocks declined with Europe putting up with the worst of the selling as the US market was on a half-day for Thanksgiving hangovers. Rivian dropped to $112.13 but outperformed many stocks such as sector leader Tesla which fell over 3%.
Is it now time to purchase Rivian? Is this the drop we have been waiting for? All drops in 2021 so far have confirmed worth buying so why should this one be any different?
Early price litigation is indicating a leap back despite Asian markets still falling. But the evidence so far over just how bad this new variant is going to be can not be concluded.
While the previous line above does make you marvel about the valuation world we live in and evokes fears of the dot com valuations for those that remember, Rivian ) is all about speed.
Extensively involved here are short term dealers who do not give too much interest for long-term valuation metrics. The speed though is this name has been slowing so even short-term dealers need to be conscious of that.
Rivian has been under anxiety since telling customers they can expect deliveries of its Launch edition R1S pick-up truck between March and April, according to Electrek and Inside EV’s. The reports recounted a customer email from Rivian. This matters because it is a delay from the initial expectations of January 2022. This has put extra focus on a company that is rated as the third-largest auto in the world although not having delivered any vehicles.
The last 5 sessions have seen volatility fall and the daily span also reduced snappily, both signs of falling speed.
$105 is the lat backing before shifting 5% swiftly down to test the psychological $100 level. From
$105 to $100 as we can see there is a percentage gap so the action should be swift. Under $100 there is no volume, so no price finding.
Opposition at $120 continues strong, revealed on the chart with reasonable price and volume action here. Crushing above $120 will glimpse a quick move to $129 a big opposition. This is the degree of control since IPO, the price with the highest amount of volume.