Strong day for Lucid Group Inc stock price on Monday rising 6.46% to $55.06
(Updated on Nov 29, 2021)

The Lucid Group Inc stock price gained 6.46% on the last trading day (Monday, 29th Nov 2021), rising from $51.72 to $55.06. During the day the stock fluctuated 9.11% from a day low at $50.71 to a day high of $55.33. The price has risen in 6 of the last 10 days and is up by 25.34% 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, 39 million more shares were traded than the day before. In total, 76 million shares were bought and sold for approximately $4.18 billion.

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 140.48% during the next 3 months and, with a 90% probability hold a price between $91.41 and $144.21 at the end of this 3-month period.

Signals & Forecast

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 $52.17 and $37.65. A breakdown below any of these levels will issue sell signals. 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 -0.83%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

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 $4.62 between high and low, or 9.11%. For the last week, the stock has had a daily average volatility of 9.37%.

Our recommended stop-loss: $52.85 (-4.02%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)

Is Lucid Group Inc stock A Buy?

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 Hold/Accumulate to a Buy candidate.

Current score: 1.794

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