LCID could be a bottoming out stock in play after it broke above the key long-term downtrend line since Nov 2021. Furthermore, the stock has broken above the bearish gap and if it could sustain above the levels: US$3.17, then it could be a potential bottoming out play. Ichimoku has shown three bullish golden crossover and the Stochastic Oscillator is showing a recovery in bullish momentum. Volume is expanding in a healthy fashion, making the stock attractive for mid-term momentum play.
If it corrects in near-term, then 2.31 support will be worth looking out for a rebound.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.