Hi Traders,
I have a love-hate relationship with LCID. The company produces outstanding products with the best EV range in the market, but its stock price often fails to reflect its fundamentals. While it’s true the company is burning cash, the quality of its products remains top-notch.
With the recent launch of Lucid Gravity, the stock has finally gained momentum to move higher. The technicals look promising as well. LCID recently bounced off the 0.61 Fibonacci level, which typically indicates a higher probability of breaking the Fibonacci high of 2.73. Additionally, the price is holding above the 50 SMA, another strong bullish signal.
Based on this, I believe LCID has a good probability of filling the gap and reaching 3.20 in the coming weeks. If momentum continues, it could even happen as early as this week.
Good luck all, and may the trend be with you.
AP
I have a love-hate relationship with LCID. The company produces outstanding products with the best EV range in the market, but its stock price often fails to reflect its fundamentals. While it’s true the company is burning cash, the quality of its products remains top-notch.
With the recent launch of Lucid Gravity, the stock has finally gained momentum to move higher. The technicals look promising as well. LCID recently bounced off the 0.61 Fibonacci level, which typically indicates a higher probability of breaking the Fibonacci high of 2.73. Additionally, the price is holding above the 50 SMA, another strong bullish signal.
Based on this, I believe LCID has a good probability of filling the gap and reaching 3.20 in the coming weeks. If momentum continues, it could even happen as early as this week.
Good luck all, and may the trend be with you.
AP
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