Resistance

Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Lucid stock has been declining since the beginning of 2023 – lost 19% of its price since January.&nbsp;</a> </li> 
 <li> <span>2</span> <a>If Lucid stock continues to fall, a fresh 52 weeks low might soon be recorded</a> </li> 
 <li> <span>3</span> <a>Lucid Group, Inc. has a market capitalization of $12. 874 Billion.&nbsp;</a> </li> 
</ul> 
<p>LCID Stock has followed a continuous decline since the beginning of 2023, and lost 19.08% of its trading price. At the time of publication, Lucid stock was trading below its annual price target of $7.38.</p> 
<h2 class="wp-block-heading" id="strong-lucid-group-inc-lcid-stock-price-analysis-strong"><strong>Lucid Group, Inc (LCID) Stock Price Analysis&nbsp;</strong></h2> 
<p>In the 52 weeks time frame, LCID stock peaked at $17.81 while its lowest trading price was $5.46. Lucid Group, Inc. has a market capitalization of $12.874 Billion.</p> 
<p>The MACD line is intercepting the signal line in the negative region or sellers region. Sellers seem to be accumulating below the histogram. The RSI line is heading towards the sellers region.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
  <img decoding="async" loading="lazy" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-550-1024x551.png" alt="Bulls Lose Grip Over LCID Stock; Inching Closer to 52 Weeks Low" class="wp-image-169420" style="width: 100%;height:551px" width="1170" height="551">
  <figcaption class="wp-element-caption">
   Source: Lucid stock price chart from <a href="https://www.tradingview.com/x/dS0F0K79/">TradingView&nbsp;</a>
  </figcaption>
 </figure>
</div> 
<p>At press time, LCID stock price was trading below 20,50,100 and 200 day EMAs. On September 18 2023, Lucid stock didn’t reflect any major movement and consolidated in the range between $5.77 and $5.79.</p> 
<p>Majority of LCID shares are closely held and remaining 37.40% shares are free floating in the market. The basic EPS (TTM) was negative $1.42. The constant decline in the trading price might lead LCID stock towards its fresh 52 weeks low of $5.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-lucid-group-inc-financial-updates-strong"><strong>Lucid Group, Inc Financial Updates&nbsp;</strong></h3> 
<p>Lucid Group, Inc. was expected to report $181.58 Million in revenue but the company failed to meet expectations and reported 16.91% less than the estimated figure. However the reported EPS was 17.03% less than the estimated figure.&nbsp;</p> 
<p>The estimated revenue for the third quarter is negative $0.37 and estimated revenue is $211.28 Million. From the reported revenue of 2022, net income of the company was negative $1.30 Billion and profit margin of negative 214.49%.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/04/despite-a-bullish-trend-lucid-stock-struggles-below-20-day-ema/">Lucid Group, Inc</a>. manufactures electric vehicles. It designs, develops, and builds energy storage systems for electric vehicles and supplies automakers with the battery pack system needed to power hybrid, plug-in, and electric vehicles.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<p>Support Levels: $5.46 &amp; $5.00</p> 
<p>Resistance Levels: $5.83 &amp; $ 6.00&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion:</strong> </h4> 
<p>Lucid Group, Inc stock has been declining since the beginning of 2023. LCID stock price seems to be under the control of bears who are enjoying the decline. As per market analysts, no interim correction in the trading price is expected. The MACD and RSI are reacting similarly, reflecting constant negativity.</p> 
<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 ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Bulls Lose Grip Over LCID Stock; Inching Closer to 52 Weeks Low

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Thecoinrepublic.com

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