RIVIAN Is this earnings slump a buy opportunity in disguise?

Rivian Automotive (RIVN) missed earnings by $0.01 and that is expected to put extreme pressure on the stock price on the short-term. However, are those short-term tensions a buy opportunity in disguise?

Well for the long-term, Rivian remains within our technical model as every significant correction since the start of 2023 has been within the -47% and -48% range. That gives a floor price of $12.75, with only weekly closings below it being potentially dangerous for disrupting the long-term outlook.

An oversold 1D RSI (at or below 30.00) is a technical buy entry and there are two bullish scenarios unfolding for Rivian one on the short and one on the medium-term. The short-term scenario includes a +62.74% like the November 10 2023 - December 20 2023 rebound, with a $21.00 Target, which would make a 1W MA100 (yellow trend-line) test. The medium-term scenario is modelled out of the April 26 2023 - July 27 2023 rise which rallied by +142.79% to the 1.382 Fibonacci extension. A repeat of that gives us a 2nd Target at $31.00.


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