On Monday, Rivian Automotive earned an upgrade to its Relative Strength (RS) Rating, from 89 to 92.
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IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History shows that the best-performing stocks typically have an RS Rating of over 80 in the early stages of their moves.
While Rivian Automotive is not near a proper buying range right now, see if it is able to form and break out of a proper chart pattern.
Rivian Automotive showed 0% earnings growth in its most recent report, while sales growth came in at 3%.
Rivian Automotive holds the No. 6 rank among its peers in the Auto Manufacturers industry group. Ferrari, Toyota Motor ADR and ZEEKR Intelligent ADR 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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