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
LCID trade ideas
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!
Lucid Group LongDue to previous hard months and after a correction with the FED and geo politics instability. Lucid Group stock is set of a run on value upwards, where the ones with higher risk apetite will be able to reward themselves back to the 60$ stock.
Lucid Group stock is set for a growth due to:
-Government incentives
-Speed up for factories in the US and Saudi Arabia
-Expansion of markets in EU
-Increase in pricing from July 2022
-Increase in sales as a result of the growth of operations for a car with very high demand.
-Increase stakes from large institutional holders such as George Soros.
I cannot put more words into how much the stock is worth but to say that, I would buy the car myself, it is enough for buying the stock.
Disclaimer:
I am long and own stocks myself. This is just an opinion on my belief what will happen to the stock. I can be wrong, and I will have no responsibility towards it in case I am wrong. Do your own due diligence.
LCID - ShortLucid was founded in 2007 under the name Atieva and originally focused on building electric vehicle batteries and powertrains for other vehicle manufacturers. Lucid's Chief Executive Officer, Peter Rawlinson, formerly served as VP of Engineering at Tesla, and Vice President Derek Jenkins previously worked as Head of Design at Mazda North America Operations. The company has seen investments from Tsing Capital, Mitsui, Venrock, JAFCO, and others. The company rebranded to Lucid Motors in October 2016 and officially announced its intent to develop an all-electric, high-performance luxury vehicle.
Due to LCID's unpopularity vs. TSLA and other EV companies, LCID's share may drop lower.