Lucid Stock Forecast
Lucid stock upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Lucid stock price gained 4.17% on the last trading day (Tuesday, 2nd Jul 2024), rising from $2.64 to $2.75. During the last trading day the stock fluctuated 5.30% from a day low at $2.64 to a day high of $2.78. The price has been going up and down for this period, and there has been a 5.36% 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, 10 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately $74.39 million.
The stock lies in the middle of a very wide and weak 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 3.72% during the next 3 months and, with a 90% probability hold a price between $2.56 and $3.30 at the end of this 3-month period.
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LCID Signals & Forecast
Mostly positive signals in the chart today. The Lucid 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 $2.62 and $2.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 10.44%. 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.
Support, Risk & Stop-loss for Lucid stock
Lucid finds support from accumulated volume at $2.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.140 between high and low, or 5.30%. For the last week, the stock has had daily average volatility of 5.18%.
Our recommended stop-loss: $2.64 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (LCID) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Lucid Group Inc to open at $2.72, and during the day (based on 14 day Average True Range), to move between $2.62 and $2.88, which gives a possible trading interval of +/-$0.126 (+/-4.60%) up or down from last closing price. If Lucid Group Inc takes out the full calculated possible swing range there will be an estimated 9.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.78 (1.09%) than the support at $2.62 (4.73%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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 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: 2.866 Buy Candidate Upgraded
Predicted Opening Price for Lucid Group Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.72 ( 0.97%) | $2.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LCID
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.86 | 4.12% |
| R2 | 2.81 | 2.18% |
| R1 | 2.78 | 0.98% |
| Price | 2.75 | |
| S1 | 2.67 | -2.91% |
| S2 | 2.64 | -4.12% |
| S3 | 2.58 | -6.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.12 | 13.45% |
| R2 | 2.84 | 3.27% |
| R1 | 2.78 | 1.09% |
| Price | 2.75 | |
| S1 | 2.62 | -4.73% |
| S2 | 2.61 | -5.09% |
| S3 | 2.50 | -9.09% |
FAQ
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