LCID - Big Pump Break Out!I've been quiet on this one but LCID is an EV stock that can really pump hard when it gets going.
Its been a devastating bear market.
So many traders will have become rekt through trying their luck with this name.
But devastating downside can lead to incredible pump action to the upside.
And now it is breaking out fast
Already up 25% today and could be more!
That means this weekly candle will likely be very large.
Though still some hours to go until the day close.
Notice that the week candle has a gap.
That could well be a Breakaway Gap I think.
Notice the high time frame bullish divergence.
That was a big clue that this would break up.
Also this pivot was captured by the magical reverse log 2.272 Golden Window (2.272 - 2.414).
We can see that it was also an Inverted Head & Shoulders pattern.
And we can see it as valid with RSI rising.
All of this offered a great opportunity 😼:
It is now hitting the yellow 50 week MA where it failed previously back in early 2023.
So its a big moment here.
If it breaks through then the sky is the limit 🌑.
But wouldn't be too surprising if there was some sort of sharp pull back perhaps back through the 50 week MA.
Overall this area looks much more positive that the 2023 pump.
Because we have seen a slow momentum shift to the upside.
And that suggests it has been an accumulation.
It does look like one way or another a significant bullish trend is developing.
And it could be a full on bull market.
We'll see how it develops!
Could be MUCH more to come 🧐!
Not advice
