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Volatile ride for Lucid Group Inc stock price on Monday moving between $21.66 and $24.22

StockInvest.us, 1 month ago

StockInvest.us

The Lucid Group Inc stock price gained 4.83% on the last trading day (Monday, 20th Sep 2021), rising from $22.96 to $24.07. , and has now gained 5 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 11.82% from a day low at $21.66 to a day high of $24.22. The price has risen in 8 of the last 10 days and is up by 23.06% over the past 2 weeks. Volume fell on the last day by -37 million shares and in total, 67 million shares were bought and sold for approximately $1.62 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $23.13, a level that may pose a second chance to hit a runner. According to fan-theory $29.69 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Lucid Group Inc

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 $21.01 and $21.67. 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 35.30%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Lucid Group Inc finds support from accumulated volume at $22.96 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.56 between high and low, or 11.82%. For the last week, the stock has had a daily average volatility of 7.33%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Check full Lucid Group Inc forecast and analysis here.