One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Rivian Automotive cleared that benchmark Friday, with a jump from 78 to 81 Friday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against that of all other stocks.
Decades of market research shows that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves.
While now is not an ideal time to invest, see if the stock is able to offer and clear a proper buy point.
Rivian Automotive posted 0% EPS growth in the latest quarterly report, while sales growth came in at 32%. Keep an eye out for the company's next round of numbers on or around May 6.
The company earns the No. 7 rank among its peers in the Auto Manufacturers industry group. Ferrari, XPeng ADR and General Motors are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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