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Green day on Wednesday for Lucid Group Inc

StockInvest.us, 3 months ago


The Lucid Group Inc stock price gained 2.09% on the last trading day (Wednesday, 19th Jan 2022), rising from $39.21 to $40.03. During the day the stock fluctuated 7.61% from a day low at $39.44 to a day high of $42.44. The price has been going up and down for this period, and there has been a 1.57% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 37 million shares were bought and sold for approximately $1.47 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 weak 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 9.25% during the next 3 months and, with a 90% probability hold a price between $31.62 and $64.44 at the end of this 3-month period.

Lucid Group Inc

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. 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. On corrections up, there will be some resistance from the lines at $42.21 and $41.22. 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 -27.90%. Further fall is indicated until a new bottom pivot has been found.

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 may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.00 between high and low, or 7.61%. For the last week, the stock has had a daily average volatility of 7.89%.

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.

Check full Lucid Group Inc forecast and analysis here.