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Volatile ride for Lucid Group Inc stock price on Friday moving between $47.15 and $55.40

StockInvest.us, 1 week ago


The Lucid Group Inc stock price gained 17.34% on the last trading day (Friday, 19th Nov 2021), rising from $47.05 to $55.21. During the day the stock fluctuated 17.50% from a day low at $47.15 to a day high of $55.40. The price has been going up and down for this period, and there has been a 32.08% 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, 35 million more shares were traded than the day before. In total, 165 million shares were bought and sold for approximately $9.11 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 upper part of a very wide and strong rising 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 $56.82 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 95.38% during the next 3 months and, with a 90% probability hold a price between $64.04 and $111.02 at the end of this 3-month period.

Lucid Group Inc

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 $49.16 and $33.57. 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 -0.56%. Further fall is indicated until a new bottom pivot has been found.

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 $8.25 between high and low, or 17.50%. For the last week, the stock has had a daily average volatility of 14.76%.

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.

Check full Lucid Group Inc forecast and analysis here.