Big movements in Lucid Group Inc stock price on Thursday moving 11.92% between high and lowStockInvest.us, 6 months ago
The Lucid Group Inc stock price fell by -8.85% on the last day (Thursday, 13th Jan 2022) from $45.43 to $41.41. and has now fallen 3 days in a row. During the day the stock fluctuated 11.92% from a day low at $41.36 to a day high of $46.29. The price has fallen in 6 of the last 10 days, but is still up by 6.86% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 million shares and in total, 35 million shares were bought and sold for approximately $1.45 billion.
On Jan 11, 2022 "Redburn Partners" gave "" rating for LCID. The price target was set to 45.47+9.0%.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 20.96% during the next 3 months and, with a 90% probability hold a price between $40.99 and $75.46 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lucid Group Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $41.56 and $42.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 16, 2021, and so far it has fallen -25.41%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Lucid Group Inc finds support from accumulated volume at $40.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.93 between high and low, or 11.92%. For the last week, the stock has had a daily average volatility of 10.37%.
The Lucid Group Inc stock holds several negative signals and despite the positive trend, we believe Lucid Group Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.Check full Lucid forecast and analysis here.