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LCID trade ideas

Lucid is Pulling UpHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Shares of American electric vehicle manufacturer Lucid Group Inc (NASDAQ:LCID) opened higher Monday after the company delivered its first dream edition vehicles over the weekend. Lucid shares opened up the session at $41 and are currently priced around the $45.90 mark, up 12% from Friday's close. The long and short-term trends are both positive. This is looking good! A new 52 week high is currently being made by LCID, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs. Possible Scenario for the market : The market is looking Bullish with a good momentum the first step will be reaching the resistance line at $53.70 by the end of the week, if the stock was able to breakout that resistance then we could be seeing a further push that could drive the value of the stock up to the $64.55. The stock has a small possibility to go into a correction move that could reach the 35.90 but no further without any updates yet. Technical indicators show : 1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign) 2) The RSI is at 84.75 and trading in the overbought zone. with no major divergences found between the indicator and the market. 3) The STOCH is at the overbought zone with a positive crossover between %K and %D. Support & Resistance points : support Resistance 1) 35.90 1) 44.80 2) 30.01 2) 47.81 3) 27.00 3) 53.70 Fundamental point of view : LCID has an Altman-Z score of 10.68. This indicates that LCID is financially healthy and has little risk of bankruptcy at the moment and The Altman-Z score of LCID is much better than the industry average of 5.85. The company hosted an owners club meeting over the weekend where members took delivery of the vehicles. "This is a big day. We always said until we've handed cars to customers, we haven't achieved a damn thing," said Lucid's CEO Peter Rawlinson. New owners took the vehicles through the Lucid Owners Club inaugural rally to showcase the cars' performance capabilities. Last week, Lucid said it intends to follow the deliveries of the Air Dream edition with deliveries of its Lucid Air Grand Touring versions. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
NASDAQ:LCIDLong
by GabiDahduh
Lucid Group LCID Elliot Wave Analysis Weekly ChartWelcome to a continuation of my Lucid Group analysis :) With the help of this analysis I would like to determine the price targets of a wave 3 with the help of the Elliot wave theory. As we can see in the weekly chart of Lucid Group, wave 1 is already formed: 0 = 02.11.2020 / 9.60 USD 1= 18.02.2021 / 64.86 USD. This was followed by wave 2 with an ABC correction: A = 02/18/2021 - 05/13/2021 / 17.29 USD B = 13.05.2021 - 01.07.2021 / 29.81 USD C = 01.07.2021 - 01.09.2021 / 16.11 USD Wave 2 Corrected 87.27% of wave 1 I determine the possible price targets of wave 3 with the following Fibonacci extensions: 100% / 71.37 USD (pink arrow) 161.8% / 105.52 USD (purple arrow) 261.8% / 160.78 USD (White arrow) 423.6% / 250.19 USD (Blue arrow) The height of wave 3 is ultimately dependent on the strength of the bull market. To put it briefly, the more buying power comes up the more impulsive the wave 3 will form, because Elliot waves are based on the behavior of market participants, at least in theory. If you take a look at the current Google Trends, you will see that the world is increasingly searched for Lucid Goup or Lucid Motors, and the search calls rise in parallel to the chart, this confirms my assumption that we are in an Elliot wave 3. After the wave 3 is over, the price goes into a correction phase, the Elliot wave 4. The corresponding correction wave 4 and its various price targets can be seen in the chart idea. The correction levels are drawn in the same color as those of the wave 3 (Click on the split symbol and select "Make mine" to scroll around in the idea) We will discuss wave 5 as soon as wave 3 and 4 are finished ;) Because the size of wave 5, depends on wave 3 and 4. Without these waves ( mainly wave 3 ) a projection would not make sense. Besides the Elliot waves, I am also inspired by another pattern for further rising prices, an ABC-D. Since ABC have formed so far, we have as a starting point the correction C of AB with 88.2%. This results in A-C = 0.882 As a target determination for D we draw a Fibonacci retracement from B to C, and determine the following Fibonacci levels 100% (Double Top) 64.86 USD 127.8% 78.12 USD 144% 86.31 USD 161.8% 94.98 USD At these points, counter-movements can occur, each measured from A or C to D, correcting to the following Fibonacci Levels: 23.6% 38.2% 61.8% 127.8% Taking into account the Elliot waves, I would consider the following Fibonacci levels as maximum correction from D: 61.8% 78.6% 88.6% For a complete analysis description please have a look at the superior Lucid Group analysis ;) You can find it here (click on the image ) If you liked this idea, I would appreciate a click on the Like button ;) If you have any questions, suggestions or a different opinion, don't be afraid to use the comment function. Thanks a lot Disclaimer: Please keep in mind that this is a pure analysis and only reflects what my eye shows me ;) This analysis is for informational purposes only and is scientific in nature. This analysis is not based on any fundamental data! This analysis is not an investment advice and should not be considered as a buy, sell or hold signal. Always do your own research before investing and seek the advice of a qualified person. I am not an investment advisor or similar and do not make any investment recommendation here.
NASDAQ:LCIDLong
by Highrisk221
6
lcid long setupi have reason to believe that lucid is about to complete a little wave 2 correction here, it was a 3-3-5 flat, rather than your usual 5-3-5 zig-zag. what we know is, if this wave 2 was a flat - then wave 4 will be a sharp correction (so anticipate it when the time comes) in theory what comes next in the days \ weeks ahead is a parabolic wave 3 with an upside target of $50. there are risks to this trade, so keep a tight stop loss just below $20.50 4% risk 140% reward. 💸
NASDAQ:LCIDLong
by notoriousbids
10
LCID - Will it be the next big one?LCID broke up strongly from a base formation on 28 Oct, breaking not 1 but 2 resistences @ 28.50 and 33 respectively. A retest of the near term resistence-turned-support at 33 on 1st Nov would have been a great opportunity to stake. Going forward 33.0 should be a rather strong support and I think a retest of 28.50 is probably unlikely. This kind of chart has a potential to be a multi-bagger (however, please don't mistake potential for guarantees!). I would also prefer to see higher than average volumes that can sustain for the the next couple of months at least. At current levels I would stake only half positions and be prepared to dollar cost average if it does retest around 33. In the "unfortunate" event that the stock crashes back to 28.50, then we need to analyse if it would continue to be an opportunity to dollar cost average. Watch out for earnings expected to be out on 15th November. Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
NASDAQ:LCIDLong
by Juliac