$LCID | WEEKLY WATCHLIST 11/8This one has been a monster recently. I personally swung calls since Friday and took my profits for a healthy gain. Sitting out until wave 4 satisfies.
Lcid
Lucid Group LCID Elliot Wave Analysis Weekly ChartWelcome to a continuation of my Lucid Group analysis :)
With the help of this analysis I would like to determine the price targets of a wave 3 with the help of the Elliot wave theory.
As we can see in the weekly chart of Lucid Group, wave 1 is already formed:
0 = 02.11.2020 / 9.60 USD
1= 18.02.2021 / 64.86 USD.
This was followed by wave 2 with an ABC correction:
A = 02/18/2021 - 05/13/2021 / 17.29 USD
B = 13.05.2021 - 01.07.2021 / 29.81 USD
C = 01.07.2021 - 01.09.2021 / 16.11 USD
Wave 2 Corrected 87.27% of wave 1
I determine the possible price targets of wave 3 with the following Fibonacci extensions:
100% / 71.37 USD (pink arrow)
161.8% / 105.52 USD (purple arrow)
261.8% / 160.78 USD (White arrow)
423.6% / 250.19 USD (Blue arrow)
The height of wave 3 is ultimately dependent on the strength of the bull market.
To put it briefly, the more buying power comes up the more impulsive the wave 3 will form, because Elliot waves are based on the behavior of market participants, at least in theory.
If you take a look at the current Google Trends, you will see that the world is increasingly searched for Lucid Goup or Lucid Motors, and the search calls rise in parallel to the chart, this confirms my assumption that we are in an Elliot wave 3.
After the wave 3 is over, the price goes into a correction phase, the Elliot wave 4.
The corresponding correction wave 4 and its various price targets can be seen in the chart idea.
The correction levels are drawn in the same color as those of the wave 3
(Click on the split symbol and select "Make mine" to scroll around in the idea)
We will discuss wave 5 as soon as wave 3 and 4 are finished ;)
Because the size of wave 5, depends on wave 3 and 4.
Without these waves ( mainly wave 3 ) a projection would not make sense.
Besides the Elliot waves, I am also inspired by another pattern for further rising prices, an ABC-D.
Since ABC have formed so far, we have as a starting point the correction C of AB with 88.2%.
This results in
A-C = 0.882
As a target determination for D we draw a Fibonacci retracement from B to C, and determine the following Fibonacci levels
100% (Double Top) 64.86 USD
127.8% 78.12 USD
144% 86.31 USD
161.8% 94.98 USD
At these points, counter-movements can occur, each measured from A or C to D, correcting to the following Fibonacci Levels:
23.6%
38.2%
61.8%
127.8%
Taking into account the Elliot waves, I would consider the following Fibonacci levels as maximum correction from D:
61.8%
78.6%
88.6%
For a complete analysis description please have a look at the superior Lucid Group analysis ;) You can find it here (click on the image )
If you liked this idea, I would appreciate a click on the Like button ;)
If you have any questions, suggestions or a different opinion, don't be afraid to use the comment function.
Thanks a lot
Disclaimer:
Please keep in mind that this is a pure analysis and only reflects what my eye shows me ;)
This analysis is for informational purposes only and is scientific in nature.
This analysis is not based on any fundamental data!
This analysis is not an investment advice and should not be considered as a buy, sell or hold signal.
Always do your own research before investing and seek the advice of a qualified person.
I am not an investment advisor or similar and do not make any investment recommendation here.
LCID CRITICAL ZONESlcid is presenting a hight probability to reach its highest level, so keep your buyer position
lite correction can accure if rebound on 0.5 fibo level. do not worry just keep confidence on your LCID stock
good luck and don't forget make some likes and specialy follow me in order to push me doing my best
lcid long setupi have reason to believe that lucid is about to complete a little wave 2 correction here,
it was a 3-3-5 flat, rather than your usual 5-3-5 zig-zag.
what we know is, if this wave 2 was a flat - then wave 4 will be a sharp correction (so anticipate it when the time comes)
in theory what comes next in the days \ weeks ahead is a parabolic wave 3 with an upside target of $50.
there are risks to this trade, so keep a tight stop loss just below $20.50
4% risk
140% reward.
💸
A review on top mentioned WSB plays..!In this analysis, I will try to cover 12 Top mentioned tickers on WSB Reddit for the coming week!
Rank 1: TSLA: Elon Musk is going to sell, why shouldn't others do the same?
Rank 2: SPY: correction is highly likely..! 2-5%
Rank 3: CLF: After 17% correction in the past 2 weeks could benefit from the infrastructure passed bill..! (possible bullish move)
Rank 4: GME: After getting out of consolidation reached the primary target and could go sideways for a while!
Rank 5: NIO: This week has earning calls, and I do not know any reliable method to predict the outcome!
Rank 6: QQQ: in premarket it is already negative! possible correction!
Rank 7: NVDA: 300-312 will be the resistance level to watch!
Rank 8: LCID: if manage to pass 44 could go to the 60-64 and become the 6 biggest Automaker above GM and Ford, seems absurd but possible!
Rank 9: PLTR: This week's earnings will push it out of consolidation!
Rank 10: PTON: after disappointing earnings and a 35% decline, it could even go lower to 50-49 level!
Rank 11: IWM: small-caps has just got out of consolidation after 9 months! a pullback could be a possible scenario!
Rank 12: PYPL: after a 27% decline, the earnings call this week could do anything to it. I do not know any reliable method to predict the outcome!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Trading Breakouts using Pivot PointsThe pivot points, like conventional Support and Resistance levels, do not last forever. At some point, the price will break out of these ranges. We always purchase at support and sell at resistance in our range strategy. However, there are instances when the market breaks out from these levels.
Trading the Breakout, you can have a starter position (small position) once the breakout occurs and then enter heavily once the price retests the new support. In trading terms, this is called the ‘role reversal’ concept. This concept simply means the turning of ‘resistance into support’ and ‘support into resistance’ For example, when the price breaks below the support level , it is not a ‘support’ anymore; but is now ‘resistance.’
Here for example we've entered LCID once it broke out of the resistance trend line . This means that LCID is starting a trend reversal and has a good chance of starting a strong momentum to the upside.
LCID extremely Bullish
I personally prefer trading breakouts instead of "guessing" when the trade will break out. This helps us in catching strong momentum plays at the right time.
Just the beginning for LCIDLong LCID over $40. Real deliveries with category leading range. Increasing volume and press coverage. Ready to rip.
LCID GAP FILL LCID looking to fill the Gap Once the gap gets tapped it shall fall through the whole gap entry around $44.30 and exit around $55.00
This is the power of Wall Street Bets..!Lucid told investors in July that it expects to produce 20,000 Lucid Air sedans in 2022, generating more than $2.2 billion in revenue, according to an investor presentation.
Now its market cap has passed Ferrari and became the 12th biggest automaker in the world!
This is happened because of WSB, not fundamentals!
Taking a position against this seems very risky,
the Best Strategy for those who have it could be cashing out the main capital and keep the free stocks and see what is going to happen!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
The signal was clear! Gave a buy signal for LCID 2 weeks ago.
BlueWave gave a green dot buy signal on the under the wave.
Stochastic RSI confirmed it as it was over-sold.
The wave never lies
$LCID waking up I really like the bottoming pattern in this name , we are long and have a price target of $50
LCID Electric Vehicle Long Fundamental Hold Trade IdeaLCID Long Term Hold Entry:
Under $30.00
Target:
$100.00 Area
DOA trading Strategy - LCID#LCID - Update, Green DOA sniper and meter held
It broke the DOA confluence
If we hold above this confluence EOD we'll see $27
China fear was an entry opportunityIn my latest post on the 19th Jul 2021, I mentioned: "It is possible that wave 2 is not complete yet and we may see another leg down before taking off hard to make new highs as the 3rd impulsive wave."
This is what happened and we should be on our way to the higher prices. Target 1 should be $59 and Target 2 should be $74 for the medium term. Note that still there is a slim possibility of morphing this correction to a more complex pattern, however as China fear pushed the Chinese stock prices to lower prices and offered an opportunity to get in at lower prices, such a pattern conversion should be regarded as an entry opportunity. EV stocks will shine in 2022 and 2023 as the sales will be more prevailing and more companies will come up with new EVs and technologies. As an example, Toyota has promised the introduction of 70 new models until 2025 out of which 15 will be fully electric. $LCID and $FSR are the two notable EV companies in the US that will introduce their luxury sedan and cross-over SUV in 2021 and 2022 respectively.
My last post on $XPEV:
Please DYODD. This is not financial advice.
Lucid Group looking to gain ground. LCIDA corrective triangle looking to enter its final leg sooner than later. Aggressive stance, as no pivot is confirmed.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
LCID bull flagLCID: Strong downwards wedge after impulsive move signals a bull flag
~ What is interesting about this graph is the VI. It showed bearish momentum but yet had increasing price action! Imagine when the VI sends bullish momentum!
~ RSI also has a lot of room to grow.
~ The only errs in this graph are the death cross on the 11th signifying a bear trend. But this cross is weak as it has low volume.
~ Another err is the false breakout on the lower side before coming back in. This can be attested to the QQQ action of dumping today. The fact LCID was able to stay bullish despite QQQ and the VI being bearish/choppy for some of the day
LCIDlooks like more of the same here. Zig Zag & Flat corrections until some Catalyst presents itself and LCID will pick a new direction
LCID Still Game On.. No Sleep till $45!I have LCID running all the way up to major resistance at $44-$47
Maybe a good entry pointLucid will hold a series of events for investors and the media at its Arizona factory next week. I expect that it will begin ramping up production of the Air shortly thereafter, but I also expect we'll get more details about its plans during those events.
LCID - GAMMA Fail aheadSince Lucid introduced the Lucid Air... I've wanted one.
That was 2016. I enquired then as to purchasing one.
Nearly 6 years later... and Nada, Zero, Zip - From Slack to Spac.
What a shame, something so promising is DOA.
They will not meet their Goals for Delivery and continue to light
CASH on fire.
Years late and Billions short.
The Degenerate Gamblers loaded the woodshed on CALLS.
A high for Lucid is in range, we are SELLERS of Lucid as Objectives overhead
are met.
We believe LCID will trade to $10 or less.
What a shame about Lucid... it was such a story, now it's a storied Company.
