Lucid Stock Price Forecast: Buy, Sell, Or Hold LCID 2023?
Lucid stock price has been volatile and unpredictable, as it depends on the market sentiment and the expectations of the investors. The company has a negative profit margin of -214.49%, which means that it is losing money for every dollar of revenue it generates.
The company has also performed poorly over the year, giving negative returns of % year-to-date, % in the last six months, % in the last month, and % in the last seven days. This indicates a long bearish trend that has not reversed yet.
Lucid Group Inc. is a company that aims to produce high-performance and luxury electric vehicles. However, the company has not yet delivered any of its vehicles to the market and faces strong competition from other established players in the industry.
Technical Analysis of Lucid Stock Price in 1-D Timeframe
CMT by shubhamsm006 on TradingView.com
At the time of publishing, Lucid stock (NASDAQ: LCID) is trading between the 50 and 200-day SMAs (Simple moving averages), which are suggesting a neutral trend.
If selling volume increases, then the price might break below the SMAs and make lower highs and lows. Therefore, the Lucid stock price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 51.10 points. The 14 SMA is below the middle line at 50.16 points, which suggests that the Lucid Group Inc. stock is neutral.
The MACD line at 7.97 and the signal line at 9.35 are both below the zero line, which indicates that the lucid stock is in a downtrend. A bearish crossover of the MACD and signal lines is observed, which signals more weakness for the LCID stock price.
Summary
Lucid Group Inc. (NASDAQ: LCID) technical indicators also support the bearish trend. The MACD, RSI, and EMA are giving negative signals and imply that the downtrend may persist in the LCID stock price. Lucid Group Inc.’s Price action suggests that the investors and traders are pessimistic about the 1-D time frame. The price action reflects a negative outlook at the moment. Investors and traders should wait for a clear signal for the next move and avoid emotional trading.
Technical Levels
- Support Levels: The nearest support levels for the Lucid Group Inc. stock price are $5.4 and $6.10
- Resistance levels: The nearest resistance levels for the LCID stock price are $8.30 and $9.90
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
