Lcid Buy the dip @ $16 Target @ $40 Apr 6, 2023Lucid Motor Group
Technical Analysis
1. Break below the support $16
2. Anchor @ $13.29
3. Little Bullrun resistance @ $22
4. Dip1 to $18.00
Dip2 to $17.00
Dip3 to $16.00
5. Ideal Buy @ $18/ $17/$16 Cost Average
6. Target @ $40/ $30 and above Apr 6, 2023
Fundamental Description:
Lucid is the future of sustainable mobility, designing luxury electric cars that further reimagines the driving experience.
Luxury Electric Car
Company Website: www.lucidmotors.com
LCID trade ideas
Lucid LCID Under The Control Of SellersLucid Group (NASDAQ: LCID) stock dropped 6.73% on Tuesday. Lucid has posted last week a nearly 40% miss in revenues alongside a 50% production cut as the company navigated a challenging second quarter.
LCID stock was significantly led by the sellers during Tuesday's session, violating the upward sloping trend line. Now, $16.80 is the key support we should stay above to ensure that yesterday’s bearish setup is over and puts LCID back on a neutral outlook to test $17.90 - $18.40 resistance levels. Otherwise, a confirmed break below $16.80 will then turn LCID decidedly more bearish to test $16.20 - $15.60 support levels. It is worth mentioning that sellers had smashed the major price-based volumes area represented in $18.00 zone and a lower open today below yesterday’s close would confirm further the mentioned area’s violation.
LCID Daily Bearflag(Daily)
Beautiful bearflag.
Being in the daily Time frame, i will probably wait until wednesday to see what happens, but a rejection off this bottom trendline, could play long (with time, maybe Octover calls) and try to ride it to the top of the channel,
Downside comes if the flag breaks down, targeting 13.40
BUy Lcid @ $18 Target @ $30 APr 6, 2023Lucid Motor Group
Technical Analysis
1. Break below the support $16
2. Anchor @ $13.29
3. Little Bullrun resistance @ $22
4. Dip to $18.00
5. Ideal Buy @ $18/ $17/$16 Cost Average
6. Target @ $30 and above Apr 6, 2023
Fundamental Description:
Lucid is the future of sustainable mobility, designing luxury electric cars that further reimagines the driving experience.
Luxury Electric Car
Company Website: www.lucidmotors.com
Price Moving Into Resistance But Still Looking Bullish!Hello Traders & Spectators,
LCID has fallen a lot in the past few weeks like everything else but has found a temporary bottom and is now looking to move higher. It is now at a major resistance that it hasn't been able to pass previously but since this resistance has been tapped so many times, that means it is getting weaker. A relief pump seems to be unfolding and ii can see prices pump to the dashed lines above. What do you think?
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Lucid breakout?I'm liking the look of this inverse Head & Shoulders forming, as well as approaching the down trend resistance we've been in since November. RSI broke this downtrend a while ago and recently re-tested, so I'd expect to see similar happen on the chart.
We're also in a descneding broadening wedge, recently bouncing off the bottom and looking to head towards resistance.
Waiting for confirmation will be the best trade, breaking $20 then getting a successful re-test of the neckline and trendline. My take profit target will be $25 to secure profits of about 25%, although it may overshoot to previous resistance of up to nearly $30.
$LCID downtrend signs$LCID is showing strong signs of long term downtrend!
Green pennant indicated upside
Although the flag above it was reversed and as prices went below prior pennant,
then comes the red pennant, indicating trend continuation to the downside!
Wait for red pennant to break above 44 before going long again!