Lucid - Weekly frame (Long)Lucid - Weekly frame (Long)
Including RSI, AO, MA130 & 20 FRAMES & ADDED FUTURE EXPECTED FRAMES FOR TWO YEARS
1LCID trade ideas
LCID to 9$Lucid Group, Inc. a technology and automotive company, develops electric vehicle (EV) technologies.
LCIDI'm not a professional technical analyst but I just want to share my thoughts NASDAQ:LCID on Daily Chart aside from the Financial actions that may happen in future
ABC/DThis is not to entry long level.
Risky with short interest just over 20%.
Possible stop under C. Target is D.
No recommendation
03/08/2023 LCID - long Hello trader,
LCID presents a favorable technical setup for initiating a long position in the stock, as it is displaying a triple bottom/consolidation pattern following a significant increase in February.
Additionally, the stop loss (SL) is positioned just below the demand zone.
Expecting a parabolic pattern from here.
LCID Lucid Cup and Handle Short then LongFSR has formed the cup of the cup and handle pattern and is now starting the
downturn formation of the handle. Price action should continue down to the 50%
retracement of the uptrend of the cup. It should then reverse and trend upward
to twice the height of the cup/ AO /MACD / RSI confirm the downtrend.
I will target this with the $8.50 strike put options expiring 3/10 and then upon
hitting the full retracement close than position and open $9.50 call options
expiring 3/17. Overall, expecting 200-300% realized profit on the trades.
Not at all a surprise but FSR / Fisker has the same pattern and so a similar
idea.
car marketso lucid is a stalon of the CAr Market with citizenship of WHO THE HELL KNOWS what: modena design for sleek, asian electical equipment to move the wheels, american heart with trading location at nasdaq, russian dupe lollicon appearance of the whole vehicle design.
cars are on fire but opinions differ, razee, coal and bitter.
not your ordinary CHEVY yet already and not your ordinary chrysler yet already.
car worth buying, but the main is tricky as hell.
so this is Lucid...
SOME UPSIDE FOR LCID?We see LCID break out of its descending trend, trapping long positions, only to return to not just our liquidity level of 8.21 BUT also to test our weekly high-term timeframe.
with our gap formed from Feb 22, we can deduce that there is a 9/10 chance Price will return to fill the gap.
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Double BTTM LCID looks to be making a DB and trying to breakout. Aggressive entries should be in by now, conservative entries will wait for the B/O then retest.
BOOM! Lucid!They always say the ones formed over a minimum of multiple months time frame are the most reliable. This would be so cool and I think everyone knows their is a realistic possibility considering the disruptive tech of the Lucid Vehicle in an EV emerging era
Lucid Sick bounce off uptrending support. Closed right at reistance of 11.04. We need to see some price action at least start to build even if it’s on a 5 min on 11.04. First key heavy reostance is 12.30. Above that we would target 17.80 and if that flips to support we target 22/24
Downside support is 10.80 and 10.41
$LCID - Breakout to $14+?Lucid breaking out of a symmetrical triangle with good volume. Strong level of resistance and Bag holders were made at $12.60. I believe when we hit here or slightly above it, is where a lot of people will sell causing it to dip back down. This is where I would sell then get back in on the dip. Past that $13.03 is the next resistance. With good enough volume if we break through that $14+ is coming. LMK what you think.
LCID // Cup handle formationAlthough there is a cup-handle formation in the graphic, the targets are determined according to Fibonacci. Pay attention to the wedge resistance in the weekly time frame.
LUCID: MARKET MAKERS & VOLATILITYDESCRIPTION: In the chart above I have included a MACRO ANALYSIS of LUCID that focuses on RSI AND MACD behavior in past SHORT SQUEEZE scenarios along with information on current trend and supply & demand pockets.
POINTS:
1. DEVIATION of 6 POINTS hence SUPPLY & DEMAND POCKETS.
2. DOWNTREND CHANNEL STILL IN PLAY UNTIL CONSOLIDATION IS CONFIRMED.
RSI: When it comes to RSI notice the angle at which the last two SQUEEZES have occurred 25 & 36 DEGREES while current RSI is ANGLED at 61 DEGREES. This measure in DEGREES is important because the STEEPER the ANGLE the SHORTER THE PERIOD WILL BE THAT RSI MEDIAN WILL LINGER AT OVERBOUGHT LEVELS BEFORE RESETING & SEEING SOME COOL OFF.
MACD: CRUCIAL TO POINT OUT NOTICE MACD IS CURRENTLY STILL SQUEEZING AND FAILED TO RESPOND CONFIRM CURRENT BUYING PRESSURE MEANING THERE IS STILL A LOT OF SHORTING PRESSURE.
IMPORTANT: Current PRICE SQUEEZE ACTION is uncannily similar to SHORT PRICE ACTION on MAY 12 2022, when price action eventually pulled back into DOWNTREND.
SCENARIO #1: In a BULLISH scenario since RSI is at OVERBOUGHT LEVELS & if price action is to head higher expect somewhat of a VOLATILE CORRECTION.
SCENARIO #2: In a BEARISH scenario since MACD failed to confirm UPTREND a downward move is to be expected next possibly pushing price action down to the 10 - 4 point SUPPLY & DEMAND POCKET.
FULL CHART LINK: www.tradingview.com
NASDAQ:LCID
LCID | Time to Ride High | OversoldLucid Group, Inc. a technology and automotive company, develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems. As of December 31, 2021, it operates twenty retail studios in the United States. Lucid Group, Inc. was founded in 2007 and is headquartered in Newark, California.
Short LUCID! (NFA)Lucid hit resistance and is most likely going to continue the trend down as shown by the last time it reached the top of the channel. SHORT
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BOOM! Just what Lucid has been cooking up this whole time maybe?An enormous Double Bottom. They always say the ones formed over a minimum of multiple months time frame are the most reliable. This would be so cool and I think everyone knows their is a realistic possibility considering the disruptive tech of the Lucid Vehicle in an EV emerging era!
$LCID: Short squeeze?$LCID has a nice setup intraday here, which makes me think it will rally towards 7.25 on Tuesday-Wednesday next, provided it remains strong and marches higher than last week overall.
Similar situation for most EV names here, seen also in $F, $TSLA, $RIVN, $LI, $XPEV and $NIO. It could be a good long term entry as well, if you want exposure to the sector (probably only really viable with $RIVN and $TSLA or just $TSLA though, but all are very tradeable here). I wouldn't have more than 10-20% in long term positions now, given overall risks, and not risk that unless you're up by that much or more for the year. Else stick to trading for the time being.
LCIDIn technical analysis rule there is no retracement 4 because
The chance of it bouncing back is very low
