Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Lucid stock price (NASDAQ: LCID) fell 20% in August 2023.</a> </li> 
 <li> <span>2</span> <a>LCID stock price is trading near a 52-week low and is trying to test the 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>Lucid Group stock is in a downtrend.</a> </li> 
</ul> 
<p>Lucid stock price (NASDAQ: LCID) corrected approximately 40% in the current month. LCID stock price returned back to the 52-week low and buyers are trying their best to defend.&nbsp;</p> 
<p>Lucid stock is in a downtrend and looks oversold so a temporary pullback rally toward the 50-day EMA is likely. However, the 200-day EMA is far from the current price so the possibility of the bullish trend reversal remains low.&nbsp;</p> 
<p>LCID stock seems to be stuck in the wide range between $5.43 to $8.40. The next directional move will be visible when buyers or sellers break either side of the range.&nbsp;</p> 
<p>Lucid Group Inc. released the previous quarter earnings on August 7, 2023. The company missed the EPS estimate by 17.03% and revenue by 16.91%. Despite that, Lucid stock reacted positively and the prices surged by 12.17%.&nbsp;</p> 
<p>However, the upmove was not reliable and buyers failed to give the follow-up momentum. Later, slow and steady <a href="https://www.thecoinrepublic.com/2023/07/29/lucid-stock-add-lcid-stock-to-your-watchlist-earnings-soon/" target="_blank" rel="noopener noreferrer nofollow">LCID share price </a>declined and eroded previous gains.&nbsp;</p> 
<p>Lucid stock price closed the previous session at $6.15 with an intraday rise of 2.16%. The market capitalization stands at $14.04 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-lucid-stock-nasdaq-lcid-perform-in-september-strong"><strong>Will Lucid Stock (NASDAQ: LCID) Perform in September?</strong></h2> 
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  <img decoding="async" src="https://lh5.googleusercontent.com/5dFHoCZvgOqZxxJw80HMD-HM9Nfq63vEQn9kpXFFZAbTQKt9TLVHgDWFxkNONoNoDvOAIb-Gox2kr7Aq_-pyiT1i5MLcGuim8J_yK9YvTa9VCSq4ADePypHA7O1kC2jX6woVZfE1J8S21r9X5yQxqA" alt="Lucid Stock Defends $6; Is LCID Stock Getting Ready for $8.00?"> 
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    NASDAQ: LCID daily chart by <a href="https://www.tradingview.com/x/rxAVoinp/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
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</div> 
<p>Lucid stock price (NASDAQ: LCID) is in the correction phase and trading near the lower range of consolidation. In the previous session, buyers defended the $6.00 and formed a reversal candle pattern.&nbsp;</p> 
<p>It shows that responsive buyers in LCID stock are still active and preparing for the rally. Till LCID <a href="https://www.thecoinrepublic.com/2023/07/29/lucid-stock-add-lcid-stock-to-your-watchlist-earnings-soon/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> sustains above $5.43, short-term recovery is possible which might take the prices to $8.&nbsp;</p> 
<p>The confidence of buyers will return when Lucid share is able to break the $8.00 hurdle. The technical analysis suggests LCID stock is in the bears’ grip but a short-term pullback rally is pending.</p> 
<h3 class="wp-block-heading" id="strong-is-the-lcid-stock-price-turning-bullish-strong"><strong>Is the LCID Stock Price Turning Bullish?&nbsp;</strong></h3>  
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  &nbsp;&nbsp; 
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<p>LCID stock price formed a bullish candle after 4 weeks of consecutive falls. The broader stock market indices like the S&amp;P 500, and Nasdaq 100 are recovering. So, it might improve the market sentiment and positively impact Lucid stock.&nbsp;</p> 
<p>The volatility in the LCID stock is quite high so speculators are also active. Therefore, it’s not going to be easy for the bulls to play the pullback rally.&nbsp;</p> 
<p>The MACD curve is reversing upward and if the recovery continues, then it might generate a positive crossover. The RSI curve in Lucid stock is at 42 which slopes upward indicating bulls are returning back on track.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Lucid stock price (NASDAQ: LCID) fell 40% in August and returned back to the 52-week low. However, the buyers in LCID stock have defended $6.00 support and are trying their best to rebound.&nbsp;</p> 
<p>The technical analysis suggests Lucid Group stock is oversold and a short-term pullback rally is pending.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Resistance levels: $7.31 and $8.40</li> 
 <li>Support levels: $5.43 and $5.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Lucid Stock Defends $6; Is LCID Stock Getting Ready for $8.00?

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