LCID Looking Bullish
I don't do much with fundamentals but technical analysis tells you this could squeeze.
Watching for break of prior month high at $3. If it does that with volume I think $3.50-$3.60 is within reach for a relatively quick move.
Watching for break of prior month high at $3. If it does that with volume I think $3.50-$3.60 is within reach for a relatively quick move.
Note
When I posted this the price was around $2.93.
We closed the week with a 45% gain at $4.25.
We have now tested the $2.90 level after 3 weeks of decreasing volume and price.
Last week closed the gap down with volume 37% higher than the prior week.
Will this push keep going?
There is still a beautiful weekly bullish divergence in play.
Weekly RSI (5 period) spiked to break 80 for the first time since November 2021 when price was at $52.
Volume profile filled out pretty nicely too.
Oh, and the 200 DMA sits just above us at $3.28. I just noticed that now to add to my bull theory. Buckle up. BUT...below $2.60 and I reevaluate as it would never surprise me to see them push this to new lows for a nice shakeout before an even better move.
Volume, volume, volume.
Juicy long set up may await, and quite possible this breaks past that last swing high on this leg, most likely after a dip or consolidation there.
As always, follow the volume. Rallies must have volume behind them to be sustainable.
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