Strong

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Lucid&nbsp; stock price fell by 7.15% over the past seven days</a> </li> 
 <li> <span>2</span> <a>LCID stock price is in a downtrend.</a> </li> 
</ul> 
<p>Lucid stock price fell by 7.15% this week and found support at $5.84. However, the stock price sustained above the threshold of $5.50 which looks like bulls are defending the price at this level.</p> 
<p>LCID stock price is trading in a range of $8.46 and $5.47. The buyers tried their best to break the 50 and 100 EMA levels in the previous session but failed. Moreover, RBC Capital analyst Tom Narayan gave a price target of $6 on Friday. Furthermore, Lucid Group is planning to expand its business across China by providing cheaper vehicles that cover the mass market of electric vehicles. Moreover, LCID stock seems oversold. A short pullback rally could be seen anytime from the lower levels.</p> 
<p>Last quarter was not so good for Lucid as it missed the estimates. Despite that, the stock surged more than 10% at that time. Lucid stock price is currently trading at $5.84 with a drop of 2.67% in the last 24 hours with a current market cap of $13.331 Billion.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-lucid-stock-nasdaq-lcid-take-a-reversal-strong"><strong>Will Lucid Stock (NASDAQ: LCID) Take a Reversal?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh3.googleusercontent.com/END6UD3mwlFscNHfMbLUKolVFd-si4kEyJgkFnx5gZaUhph6tLATAJ3SBDi4tt6o5vuSKzgWL6JvVux3kRtnLcGQuh6bstAQimd75uFd8XGVYzXM9bC4w9t1Y1Q6ffjRdxBJq1zEPtVTYhF6cGV72Ks" alt="Lucid Stock Holds $5 Support; Will LCID Stock Reach $8.00 Soon?">
  <figcaption class="wp-element-caption">
   Source: Lucid .1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p>LCID<a href="https://www.thecoinrepublic.com/2023/08/25/lucid-stocklcid-does-lucids-ev-price-cut-impact-stock-price/"> stock price</a> has been falling from its peak levels and is forming the lower-lows pattern. It is in a bearish trend after breaking below the 20-day and 200-day moving averages. However, a relief rally could be seen at the lower levels in the near future.</p> 
<p>At the moment, Lucid stock price is trading below the 50 and 200-day exponential moving averages (EMAs), which do not support the price trend. If bulls want to make a comeback, they will have to rise and sustain the price above the 50-day and 200-day EMAs. However, the sellers seem to be more aggressive as compared to buyers.</p> 
<p>The current value of RSI is 37.50 points. The 14 SMA is above the median line at 42.45 points which indicates that Lucid stock is floating near the oversold zone.</p> 
<p>The MACD line at -0.1847 and the signal line at -0.1795 are below the zero line. A bearish crossover is observed in the MACD which signals more weakness for the LCID stock price.</p> 
<h2 class="wp-block-heading" id="strong-analyst-price-targets-for-lcid-stock-strong"><strong>ANALYST Price Targets For LCID Stock&nbsp;</strong></h2> 
<p>There is a mixed opinion among 15 analysts who follow Lucid stock – 5 of them rate Lucid as a Strong Buy, while 8 of the analysts recommend holding the stock, and none of them advise selling it. Only 2 of the analysts have a Strong Sell rating for Lucid which indicates neutrality.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized">
  <img decoding="async" loading="lazy" src="https://lh5.googleusercontent.com/P24AhwMEHxDKTUqrG_yH7WzfJ95EfpVy2lsXtKvpPkTUZUnn7dAs227t79rSxPbVistni4LJ3aGsA-BykzdZd7q4S4cpxQaFJDOkM7yszUJ8qVIUAdj1srTlMfxdIXi4lYIEOmpFi5l0sLCNxl7nF2Q" alt="Lucid Stock Holds $5 Support; Will LCID Stock Reach $8.00 Soon?" style="width: 100%;height:429px" width="1174" height="429">
  <figcaption class="wp-element-caption">
   Source: TradingView
  </figcaption>
 </figure>
</div> 
<p>Lucid stock has an average price target of $7.38, which implies a potential increase of 26.28% from its current price of $5.84. The price targets vary from a high of $10.00 to a low of $5.00.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Lucid stock price fell 18% this month and is sustaining above the $5 level. However, the LCID stock needs the support of buyers to break the key moving averages and flip the trend. Moreover, a short pullback rally is expected in the stock in the upcoming days.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels: </strong>S1 $5.57, and S2 $4.85.</li> 
 <li><strong>Resistance Levels: </strong>R1 $6.52, and R2 $7.23.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions</p>

Lucid Stock Holds $5 Support; Will LCID Stock Reach $8.00 Soon?

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