A retest of the breakout area, if buyers step in at this support, the next move higher could have strong conviction, I am loving this play, lets see how this play out,
Downtrend and Bearish Structure:
The price is moving within a well-defined descending channel (yellow lines), indicating a clear bearish trend. Multiple lower highs and lower lows confirm selling pressure. The moving averages (blue and red lines) are also sloping downward, reinforcing the bearish sentiment.
Breakout or Continuation?
The price is near the lower...
Neutral to slightly bearish setup until earnings.
If it holds the channel support, there is a strong upside potential.
If it breaks down, a move toward 120 or lower is likely.
Earnings will be the key driver. If you are considering a trade, waiting for post-earnings confirmation is safer.
Lucid Motors (LCID) is setting up for an interesting move possibly before earnings
Technical Setup – Signs of a Potential Breakout
On the weekly chart, LCID looks like it's trying to break out of a downtrend, with the 20-SMA and 50-SMA starting to turn upward.
On the daily chart, price action is bouncing off support ($2.90 - $3.00) and attempting to push past...
Support and Resistance Levels:
Key Support: AMD has found strong support around the $115-$120 zone, as marked on the chart.
Resistance Target: The upside target is set at $177, representing a potential 46% gain if the stock reclaims higher levels.
Indicators:
SMA 20 and SMA 50:
The price is currently below both the SMA 20 ($143.19) and SMA 50 ($136.60),...
