Volatile ride for Lucid Group Inc stock price on Monday moving between $43.04 and $47.87StockInvest.us, 3 weeks ago
The Lucid Group Inc stock price gained 9.86% on the last trading day (Monday, 8th Nov 2021), rising from $41.80 to $45.92. , 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 11.22% from a day low at $43.04 to a day high of $47.87. The price has risen in 7 of the last 10 days and is up by 71.02% 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, 41 million more shares were traded than the day before. In total, 153 million shares were bought and sold for approximately $7.03 billion.
On Nov 08, 2021 "BTIG Research" gave "$14.00" rating for LCID. The price target was set to 43.55+4.2%.
Given the current short-term trend, the stock is expected to rise 38.74% during the next 3 months and, with a 90% probability hold a price between $37.75 and $63.71 at the end of this 3-month period.
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. 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 $38.58 and $27.85. 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 158.12%. Further rise is indicated until a new top pivot has been found. 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.
On the downside, the stock finds support just below today's level from accumulated volume at $36.99 and $36.53.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 $36.99. If this is broken, then the next support from accumulated volume will be at $36.53 and $35.48.
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 $4.83 between high and low, or 11.22%. For the last week, the stock has had a daily average volatility of 9.60%.
The Lucid Group Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Lucid Group Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.Check full Lucid Group Inc forecast and analysis here.