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High volatility in Lucid Group Inc stock price on Monday which ended trading at $40.93

StockInvest.us, 7 months ago


The Lucid Group Inc stock price gained 7.57% on the last trading day (Monday, 3rd Jan 2022), rising from $38.05 to $40.93. During the day the stock fluctuated 10.01% from a day low at $37.96 to a day high of $41.76. The price has been going up and down for this period, and there has been a 2.3% 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, 26 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately $1.86 billion.

On Dec 30, 2021 "Citigroup" gave "" rating for LCID. The price target was set to 37.71+2.0%.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $37.94 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 45% during the next 3 months and, with a 90% probability hold a price between $55.02 and $95.57 at the end of this 3-month period.


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 a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $44.37. On a fall, the stock will find some support from the short-term average at $38.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, November 16, 2021, and so far it has fallen -26.28%. 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 $3.80 between high and low, or 10.01%. For the last week, the stock has had a daily average volatility of 6.17%.

Lucid Group Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full Lucid forecast and analysis here.