Lucid Group Inc stock downgraded from Sell Candidate to Strong Sell Candidate after Thursday trading session.StockInvest.us, 3 weeks ago
No changes to the price of Lucid Group Inc stock on the last trading day (Thursday, 23rd Dec 2021). During the day the stock fluctuated 0% from a day low at $38.70 to a day high of $38.70. The price has risen in 5 of the last 10 days and is up by 5.97% over the past 2 weeks.
On Dec 20, 2021 "Guggenheim" gave "$38.00" rating for LCID. The price target was changed from 38.18 to 4.6%.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $39.26. A reaction back to this level may hold a second chance to get out before further falls.
There are few to no technical positive signals at the moment. 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 $39.18 and $45.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, December 22, 2021, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Lucid Group Inc finds support from accumulated volume at $36.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had a daily average volatility of 6.49%
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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full Lucid Group Inc forecast and analysis here.