Strong day for Lucid Group Inc stock price on Tuesday rising 8.99% to $45.47StockInvest.us, 4 months ago
The Lucid Group Inc stock price gained 8.99% on the last trading day (Tuesday, 11th Jan 2022), rising from $41.72 to $45.47. During the day the stock fluctuated 9.62% from a day low at $41.49 to a day high of $45.48. The price has been going up and down for this period, and there has been a 22.96% 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, 16 million more shares were traded than the day before. In total, 60 million shares were bought and sold for approximately $2.72 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 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 26.47% during the next 3 months and, with a 90% probability hold a price between $45.12 and $80.36 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, 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 $40.63 and $42.78. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, November 16, 2021, and so far it has fallen -18.10%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $40.01 and $36.99.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 $40.01. If this is broken, then the next support from accumulated volume will be at $36.99 and $35.48.
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 $3.99 between high and low, or 9.62%. For the last week, the stock has had a daily average volatility of 10.84%.
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 Sell to a Buy candidate.Check full Lucid Group Inc forecast and analysis here.