![]() ![]() They do not establish financial, investment, or other advice. The views and opinions stated by the author, or any people named in this article, are for informational purposes only. Major resistance: $8.70 and $11.15 Disclaimer The technical parameters also suggest the same. ![]() The market structure and price action suggest that the bulls have started to step in to protect the price from further downfall. LCID stock price has started to gain bullish momentum and is currently headed toward the recent resistance level of $8.70. ![]() LCID price has crossed the 20-day SMA of Bollinger bands and is headed toward the upper band, which resides at the $7.98 level. The bands of Bollinger have contracted, indicating less volatility in the market. The Chaikin money flow score is 0.14, suggesting that there is bullish strength in the market and price might retest the resistance level of $8.70. LCID stock price is also trading below all the major EMAs indicating bearish momentum in the price. RSI trades at 47.22, indicating that LCID price is facing the same level of pressure from bulls as well as bears. Will LCID Price Escape Consolidation Phase In Month Of May? Price cuts by the world’s major automobile makers Tesla and Ford Motor have made it more difficult for companies such as Lucid Group and rivian automotive to gain market share in this industry. Lucid group stated that the company will be producing 10000 to 14000 vehicles in the year 2023 but Lucid Group modified this to a less ambitious sounding goal of making at least 10000 vehicles. Lucid group might enter into the penny stock category if it drops below $5. The revenue estimated by consensus was $199.35 Million but Lucid Group reported 149.4 Million. Consensus estimated EPS to be $0.39 and it turned out to be $0.39, worse than the analyst estimate by $0.04, a surprise of -9.85%. ![]() Lucid Group recently reported first Quarter earnings. LUCID Group Might Enter Into Penny Stock Category On the contrary, if bearish momentum strikes the market and shatters the recent support of $6.70 level, there is a higher probability that price might head down toward $6 level. If the price is able to break and close above the $8.70 level, there is a higher probability for the price to retest the $11.25 level. LCID price is hovering just the major demand from where the bullish rally started. LCID stock price is down -31.13% in the past 3 months and down -58.53% in the last 12 months. ![]()
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