Lucid Group Inc stock price up more than 8.46% on FridayStockInvest.us, 2 months ago
The Lucid Group Inc stock price gained 8.46% on the last trading day (Friday, 17th Sep 2021), rising from $21.17 to $22.96. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 7.34% from a day low at $21.90 to a day high of $23.51. The price has risen in 8 of the last 10 days and is up by 23.04% 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, 60 million more shares were traded than the day before. In total, 104 million shares were bought and sold for approximately $2.38 billion.
On September 15, 2021 "Bank of America" gave "$30.00" rating for LCID. The price target was changed from 18.95 to 5.5%.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $23.14 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -21.96% during the next 3 months and, with a 90% probability hold a price between $13.00 and $18.05 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Mostly positive signals in the chart today. The Lucid Group Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $20.40 and $21.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, September 01, 2021, and so far it has risen 29.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $21.17 and $18.66.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lucid Group Inc finds support just below today's level at $21.17. If this is broken, then the next support from accumulated volume will be at $18.66 and $17.79.
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 $1.61 between high and low, or 7.34%. For the last week, the stock has had a daily average volatility of 5.91%.
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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 Group Inc forecast and analysis here.