Lucid Stock Price Prediction: Buy, Sell, Or Hold LCID In 2023?
The price of 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 -506.54%, which means that it is losing money for every dollar of revenue it generates.
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.
Lucid stock price has also performed poorly over the year, giving negative returns of -11.33% year-to-date, -41.62% in the last six months, -13.45% in the last month, and -6.22% in the last seven days. This indicates a long bearish trend that has not reversed yet.
If selling volume increases more, then the price might go down furthermore and make lower highs and lows. Therefore, Lucid stock price is expected to move downwards giving bearish views over the daily time frame chart.
What Technical Analysis Says of Lucid Stock Price in 1-D Timeframe?
Currently, Lucid stock (NASDAQ: LCID) is trading below the 50 and 200-day SMAs (Exponential moving averages), which are not supporting the price trend.
The current value of RSI is 40.42 points. The 14 SMA is below the middle line at 46.14 points, which suggests that the Lucid Group Inc. stock is bearish.
The MACD line at -0.1785 and the signal line at -0.0876 are both below the zero line, which indicates that the 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 stock price 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 stock price are $6.68 and $5.76.
- Resistance levels: The nearest resistance levels for the LCID stock price are $8.45 and $9.3
Disclaimer
This article is only for information and does not give any financial advice or suggestions about buying, selling, or holding any financial instrument. Please note that financial markets are risky and unpredictable, and past performance does not guarantee future results.
