Volatile ride for Lucid Group Inc stock price on Thursday moving between $43.00 and $49.67StockInvest.us, 1 month ago
The Lucid Group Inc stock price fell by -10.47% on the last day (Thursday, 18th Nov 2021) from $52.55 to $47.05. and has now fallen 3 days in a row. During the day the stock fluctuated 15.51% from a day low at $43.00 to a day high of $49.67. The price has been going up and down for this period, and there has been a 26.75% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -66 million shares and in total, 130 million shares were bought and sold for approximately $6.14 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 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 84.74% during the next 3 months and, with a 90% probability hold a price between $58.71 and $104.06 at the end of this 3-month period.
The Lucid Group Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $47.09. On a fall, the stock will find some support from the long-term average at approximately $32.70. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -15.26%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Lucid Group Inc finds support from accumulated volume at $45.92 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 $6.67 between high and low, or 15.51%. For the last week, the stock has had a daily average volatility of 12.41%.
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.