LCID trade ideas
$LCID: Short it once again...NASDAQ:LCID offers a very good reward to risk short position. Here's the breakdown: after thorough analysis, I've identified a target of $2.27, aligning with a timeline that stretches to December 15th, 2023 as per Time@Mode. Be aware of the pivotal level at $7.51, which essentially functions as the litmus test for the very viability of this entire maneuver. Should the price surge past that threshold, it's a signal to initiate a reevaluation of the strategy, or simply put: GTFO the trade.
Now, let's delve into the logistics: shares are currently in short supply, so entering short positions is an exercise in futility. However, we can utilize OTM put options. A sufficiently far strike price with an expiration date of January 19th, 2024, might very well hold the key to capitalizing on this anticipated market move. The crux of the matter lies in strategically employing these options to ride the wave before it reaches its zenith and we get a gamma explosion as the OTM options go ATM.
Best of luck!
Cheers,
Ivan Labrie.
Falling Wedge - LCID - ZonesLucid has formed a Falling Wedge. This month we have earnings and the volume on monthly timeframe are looking pretty bullish.
*not financial advice
*do your own diligence
#LCID
LCID: After consolidation we fly upThere is a double bottom on the chart, there is a set of positions, after which we will definitely fly up.
Good luck to all! If you liked it - subscribe!
LCID, PUMP-ability is high!LCID rising volume net buys this past 48 hours is quite notable depicting an oversold exhaustion based on daily data.
The stock is back at 1.0 FIB LEVEL -- the most discounted price you could get. Best to seed at this range -- as shorters seems to start exiting.
6.0 range has been a solid support level which has been tested a couple of times -- and always rejected to the upside.
Volume has increased 10%+ from its average numbers conveying position buys at the current pricing.
Histogram higher lows has been created cementing the present range as the new base for the incoming series of ascend.
Spotted at 6.5
TAYOR
Safeguard capital always.
$NASDAQ:LCID Swing Trade Bullish Divergence (Weekly Chart)NASDAQ:LCID Swing trade with a bullish divergence confirmation on the weekly chart. Since the EV sector is on the bullish run with being the top volume gainers to support. We might see a climax run on this sector.
LCID - BULLISHhealthy run with a pullback to .5 area, with a bounce up to the .5 fib,
nice pullback for a double bottom. run to $8
target: $8 area
LCID My current analysis that LCID still have shorts and are shown by the green dashed lines.
If LCID gave us a wave and a correction above the blue line and the green line we might seek for long setup and that was the indication to buy or else its bearish.
Lucid, LCID Continuation
Since my previous Lucid Chart it has been moving as expected and has broken above the last price target set. Now if LCID can break and hold above $8.14 the new target is $9.88 to fill the February Gap Down and will be an additional 21% Gain. Since June 28, Lucid has now established that it is trading above the 7 day EMA for 8 sessions now and that will in turn act as support. Lucid is also currentlyt trading within a Very Longterm Bear Channel with lots of potential to swing within the channel. The RSI and the MFI are both also confirmiung that the current upward trend should continue.
INVERSE HEAD AND SHOULDER FORMATION. HAS LUCID FORMED BOTTOMS?LUCID has been respectful of trendline since breaking upwards of triangle pattern.
Daily Timeframe cross above MACD
Fibonacci healthy deep pullback below $6.87
GAP play pass H/S neckline at $9.26 - $9.82
IF trendline continues to be respected and support holds at top of triangle..a profitable run up is on the way
LCID Long after Smart Money Liquidity GrabThe January 2022 pump was a scam to induce more liquidity below those lows. Now we see price went in to eat that liquidity and has aggressively moved up creating a Market Structure Shift. I believe post earnings we will see a rally to $9 which is around the level of weekly imbalance.
$LCID An Underrated EV PlayerAfter disappointing Q2 production and delivery numbers, Lucid Group, Inc. (NASDAQ: LCID) stock dropped 12% – ending the stock’s impressive 22% run on the news of its new deal with Aston Martin (LSE: ALM) for the latter to use some of LCID’s technology. Despite announcing underwhelming numbers, the drop in the LCID stock price could be an overreaction as the company’s fortunes could improve significantly when its Saudi Arabia plant starts delivering vehicles next September. Given the significance of this catalyst, the current dip could be an opportunity to go long on the stock ahead of this upcoming catalyst.
LCID Fundamentals
LCID’s Production & Deliveries
LCID announced that it produced 2,173 vehicles, a decline of 6% sequentially, which means LCID has produced 4,487 vehicles so far in 2023. While the production number may seem low, it is still in line with LCID’s forecast of 10,000 in 2023. That said, LCID has missed on its target to increase its deliveries sequentially since it delivered 1,404 vehicles down from the 1,406 it delivered in Q1.
The Saudi Arabia Plant
Nevertheless, the underwhelming performance regarding production and deliveries may end soon since the first vehicle assembled in the Saudi Arabia plant is expected to roll out in September 2023. The new assembly line has the potential to improve LCID’s production and deliveries for the rest of the year and the coming years which in turn will increase its revenues and improve its fortunes substantially.
Furthermore, the plant will start full production in 2025 according to LCID, and is expected to produce 155,000 vehicles annually and export more than 130,000 vehicles to countries in the Middle East region. With this, LCID will be one of the first EV manufacturers to enter the Middle Eastern EV market which is expected to reach $7.65 billion by 2026 according to a report by Mordor Intelligence, allowing it to build brand loyalty and set regional industry standards.
Technical Analysis
After it successfully tested the $7.11 support, LCID stock entered a neutral trend with the stock trading in a sideways channel between $7.11 and $7.98. Looking at the indicators, the stock is trading below the 50, and 21 MAs which is a bearish indication although it remains above the 200 MA which is a bullish indication. Meanwhile, the RSI is neutral at 37 and the MACD is approaching a bullish crossover.
As for the fundamentals, LCID stock has witnessed a catalyst after the announcement of its Q2 production and deliveries update. LCID’s Q2 earnings on August 7 and the start of the assembly process in the Saudi Arabia plant will be future catalysts for LCID stock. With the stock trading near support, investors could find the current PPS a good entry point ahead of deliveries starting from the Saudi plant.
LCID Forecast
While LCID had disappointing Q2 production and deliveries, it is still on track to achieve its guidance for the year, especially since the Saudi plant will start the assembly process in September which will increase LCID’s production and deliveries. Furthermore, LCID has started using its vehicle powertrain and battery systems technology to make more revenue with the new deal with Aston Martin. With the backing of the PIF, LCID can dominate the Middle Eastern market which makes LCID stock one worth keeping an eye on.
#LCID Straddles Detected! Watch out "caution" areasWe placed caution areas because we detected a few straddles and support/resistance levels that may not be 100% accurate.
We do research and find new opportunities every day.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all.
Stay tuned!
A breakdown in Lucid very likely after 2023 Q2 Earnings Lucid's technical analysis suggests that the stock has been trading in a rangebound fashion between $7 to $8 for a considerable period of time.
It did briefly reach $8, but it has consistently returned to the $7 level, indicating a support level at $7.
However, recent lower delivery production numbers have resulted in high trading volume, causing the stock to decline below $7.
This points out a potential breakout from the established range, with the next significant support level expected around $6.
The upcoming earnings release on August 7th may be a catalyst for the stock to reach the $6 range.
If the support at $6 fails to hold, it could trigger a significant decline.
The Relative Strength Index (RSI) 2 is currently in the positive territory, suggesting an overbought condition that needs to cool down.
Considering all these indicators, there is a possibility that Lucid may break below the $6 level in the near future
Could a short squeeze be coming on Lucid?If you want to be notified every time I post a new article, just click 'FOLLOW' above. Also, if you want to learn more about a particular topic or need some advice, please comment below the article and I'll be happy to help.
Could a short squeeze be coming on Lucid?
Lucid Group, Inc. (NASDAQ: LCID) is facing a major production problem.
To improve the situation, they launched a $3 billion public offering, which however resulted in a significant 20% dilutive effect on the value of their shares.
In the start-up phase, the capital increase is a necessary step to ensure the future success of the company. Now that it has enough funds to scale production, its production woes may end soon.
In 2022, LCID fell short of expectations, building just 7,180 EVs for the year. By comparison, Polestar (PSNY) produced 21,000 in the final quarter of that year alone. This decrease in production has caused waiting times to make reservations to lengthen, resulting in a dramatic drop in customer demand.
LCID plans to ramp up production at its plants in Arizona and Saudi Arabia. The first facility will have a capacity of up to 365,000 electric vehicles per year, while Saudi Arabia is expected to have 155,000 in 2025. To achieve this, however, plants need to have adequate financial support and capital, EV now has approximately $6 billion in liquidated funds, an unprecedented figure for an industry startup.
I believe that with the available funds LCID is able to scale its production, meeting higher demand as lead times decrease.
A big plus is also the backing of the PIF, Saudi Arabia's sovereign wealth fund, which is one of the largest in the world.
By the end of 2022, the PIF has invested a whopping $915 million in LCID, and placed an order to supply 100,000 vehicles to the Saudi government.
Current developments show that the PIF attaches great importance to LCID due to the development of its 'Saudi Vision 2030'. As a result, we can state that the PIF will provide continued support to LCID.
Saudi Arabia's Vision 2030 plan aims to create an economy less dependent on fossil fuels. To achieve the goal, the country is pushing more people into the private sector and investing in the electric vehicle market. This can be a big boost in such plans.
After several unsuccessful attempts to enter the traditional ICE market, Saudi Arabia is trying to carve out a major role in the electric vehicle sector. Lucid's new EV factory is expected to be completed by 2025-26, and under the local EV brand Ceer, it is expected to produce 500,000 vehicles annually starting in 2030.
Saudi Arabia is ready to welcome Lucid's electric vehicles with open arms. They said they will purchase 100,000 vehicles from LCID over the next ten years for use by government employees. This move will help boost Lucid's image in the Middle East.
I am confident that with production underway in the region, Lucid will soon be able to export to developed Gulf countries. The UAE appears to be poised for the adoption of EVs and could prove to be a market full of opportunities for Lucid in the future.
In summary, the shares have recently priced in a capital raise with a drop in value making this a good time to buy them and have over 30% short interest.
This means that in the event of favorable quarterly reports or positive news, the stock could explode thanks to a short squeeze with the stock easily reaching $16.
Author's note:
The information and content provided on this site should not be considered as an invitation to invest in the financial markets. The Content is a personal opinion of Dr. Antonio Ferlito.
Lucid BreakoutLucid seems good after breaking falling trendline resistance can touch 9.15 after this breakout as a potential target one, and if breach this target we can see the next levels mentioned on chart in coming sessions as target two, a gap is visible on provided chart also can be filled during this process after target 1.
what are your views on it please share in comment box, thanks and best regards.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning only.
Regards-: Amit
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The Node Squeeze Indicator is a powerful tool that empowers traders to identify major market moves before they happen. By combining Bollinger Bands, Keltner Channels, and the Squeeze Momentum Indicator (SMI), it effectively highlights periods of low volatility and subsequent high volatility expansion. Regardless of your preferred trading style or timeframe, the Node Squeeze Indicator can enhance your trading decisions and improve overall performance. However, it should always be used in conjunction with other indicators and analysis techniques, and traders must exercise proper risk management. Unlock the power of the Node Squeeze Indicator and stay ahead of the markets with this comprehensive and intuitive trading tool. 🚀💪📈 #TradingTool #NodeSqueeze #MarketPerformance #TradingView
LUCID - LCID Bullish ReversalThere's quite alot going on here in this Chart. Bullish signals are all over the place with Posititive Divergence on the RSI as well as the MFI, Three White Soldiers, Gap down needing to be filled, Today's candle closing above the 7 day EMA, also closed above strong resistance, current resistance at $6.91 with low resistance next at $7.11, MacdLE +2, PPO had been at -6 while the ADX was near +17, next move up to $7.53 for 9%.
$LCID Wedge Setup - Potential Breakout Ahead! 📉📈Hello traders! 🌟📊 I want to bring your attention to an interesting technical pattern I've spotted on $LCID. It appears to be forming a wedge pattern, suggesting a potential breakout opportunity. Let's take a closer look at the details! 💡📉📈
🔍 Symbol: NASDAQ:LCID
📅 Timeframe: Weekly
📌 Wedge Formation:
NASDAQ:LCID has been consolidating within a narrowing range, forming a wedge pattern. This pattern is characterized by converging trend lines, with the upper trend line sloping downward and the lower trend line sloping upward. The tightening price action indicates diminishing volatility, typically preceding a significant breakout move.
📈 Breakout Confirmation:
To validate the wedge pattern, we'll need to see a clear breakout above the upper trend line. This breakout should ideally be accompanied by an increase in volume, indicating strong buying interest. Keep a close eye on as a potential breakout point. A decisive move above this level could signal a bullish breakout.
🎯 Price Targets:
If the breakout occurs, we can project potential price targets based on the height of the wedge pattern. Measure the distance from the starting point of the wedge to the upper trend line and add it to the breakout level. Consider as potential price objectives to keep an eye on.
⚠️ Risk Management:
Remember to implement appropriate risk management strategies. Placing a stop-loss order below the lower trend line or at a level that aligns with your risk tolerance can help protect your capital in case the breakout fails and price reverses.
As always, conduct thorough research and consider additional factors such as market conditions, news events, and overall trend analysis before making any trading decisions.
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Please note that this analysis is based on technical analysis principles and should be used as a starting point for your own research. Market conditions can change rapidly, so stay vigilant and adapt your trading strategy accordingly.
Happy trading! 🚀💰
Disclaimer: This content is not financial advice. Trading carries risks, and it's important to only trade with funds you can afford to lose. Seek advice from a qualified financial professional before making any investment decisions.
Battle of the New EV NASDAQ ComponentsLucid and Rivian, both new components of the NASDAQ:NDX , have been showing up on the High-Volume Institutional Activity recently.
NASDAQ:LCID has the beginnings of a bottom attempt developing with a Dark Pool buy zone emerging, but it's been slow-going for this EV company. Professional short-term trading is evident in the current run up, as it is in other EV companies this week, spurred by the bankruptcy of Lordstown Motors, many would say.
NASDAQ:RIVN has a clearer Dark Pool buy zone developing at this bottoming level with the same Pro Trader footprint in the current run up. This type of bottom formation provides a sturdier support level--evidence of more conviction from the institutions?
Both stocks have a lot of work to do to complete their bottoms for more than short-term trading at this time. Resistance AND competition are heavy ahead, as it's still early days in the race to dominance in EV Auto Manufacturing.
LCIDMID-TERM: Wedge/Support/Three White Soldiers. (not financial advice)
shoutout @cheddafreeze for spotting this chart at much lower prices, already hitting her own targets.
