Lucid Group Inc stock price up more than 6.46% on MondayStockInvest.us, 8 months ago
The Lucid Group Inc stock price gained 6.46% on the last trading day (Monday, 29th Nov 2021), rising from $51.72 to $55.06. During the day the stock fluctuated 9.11% from a day low at $50.71 to a day high of $55.33. The price has risen in 6 of the last 10 days and is up by 25.34% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 39 million more shares were traded than the day before. In total, 76 million shares were bought and sold for approximately $4.18 billion.
On Nov 17, 2021 "Morgan Stanley" gave "$12.00 - $16.00" rating for LCID. The price target was changed from 52.15 to 6.1%.
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 140.48% during the next 3 months and, with a 90% probability hold a price between $91.41 and $144.21 at the end of this 3-month period.
The Lucid Group Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $52.17 and $37.65. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, November 16, 2021, and so far it has fallen -0.83%. 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).
Lucid Group Inc finds support from accumulated volume at $52.55 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $4.62 between high and low, or 9.11%. For the last week, the stock has had a daily average volatility of 9.37%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lucid Group Inc stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full Lucid forecast and analysis here.