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Resistance

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<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Lucid stock price (NASDAQ: LCID) fell 13% in the previous week.</a> </li> 
 <li> <span>2</span> <a>LCID stock price seems oversold and might show a pullback toward a 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>Lucid Group, Inc.’s stock price defended the $5.00 level and formed a Doji.</a> </li> 
</ul> 
<p>Lucid stock price (NASDAQ: LCID) fell 15.45% in the current month and hit a new 52-week low at $4.97. However, it formed a Doji candle near $5.00 which the price showed a minor bounce.&nbsp;</p> 
<p>LCID stock price seems to be in a bearish grip and is heavily shorted stock. So, short sellers need to be careful in the coming weeks and beware of squeezes.&nbsp;</p> 
<p>Lucid Group, Inc.’s stock price had not performed well in the past few months and declined by forming lower low swings. It continuously faced rejection from the 50-day EMA and traded with a bearish bias.&nbsp;</p> 
<p>Short-term pullback rallies were not sustained on higher levels showcasing the dominance of sellers.&nbsp;</p> 
<p>Lucid stock is in a downtrend but the price looks oversold so a temporary pullback toward the 50-day EMA is possible.&nbsp;</p> 
<p>From the beginning of September, <a href="https://www.thecoinrepublic.com/2023/08/25/lucid-stocklcid-does-lucids-ev-price-cut-impact-stock-price/">LCID stock</a> price has fallen without any consolidation or pullback. It shows buyers have lost the confidence and future outlook of the company does not look good.&nbsp;</p> 
<p>Lucid stock closed the previous session at $5.31 with an intraday rise of 3.51%. The market capitalization stands at 12.12 Billion.</p> 
<h2 class="wp-block-heading" id="strong-lucid-stock-price-might-show-short-squeeze-strong"><strong>Lucid Stock Price Might Show Short Squeeze</strong></h2> 
<div class="wp-block-image"> 
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  <img decoding="async" loading="lazy" width="1024" height="434" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873-1024x434.png" alt="Lucid Stock Price Defends $5; Will LCID Stock Reverse Upward?" class="wp-image-171568" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873-1140x483.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-873.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   NASDAQ: LCID daily chart by <a href="https://www.tradingview.com/x/7NtBvyvv/" target="_blank" rel="noreferrer noopener">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>Lucid stock price (NASDAQ: LCID) is in a correction phase but in a previous session, something interesting happened.&nbsp;</p> 
<p>LCID stock price formed Doji on 25 September and buyers succeeded in giving follow-up momentum in the previous session. It might be in the initial phase of a short-covering rally.&nbsp;</p> 
<p>Therefore, at current levels, it will be highly risky to build fresh shorts. If the Lucid share price breakout of $5.50 hurdle then a 10% to 20% sharp rise is possible.&nbsp;</p> 
<p>The technical analysis suggests that the <a href="https://www.thecoinrepublic.com/2023/08/25/lucid-stocklcid-does-lucids-ev-price-cut-impact-stock-price/" target="_blank" rel="noreferrer noopener">Lucid Group Inc.</a> share price might reverse upward for a short-term period. However, for the long term, it remains bearish.</p> 
<h3 class="wp-block-heading" id="strong-lcid-stock-price-analysis-on-a-weekly-time-frame-strong"><strong>LCID Stock Price Analysis on a Weekly Time Frame</strong></h3>  
<div class="tradingview-widget-container">
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 <div id="tradingview_f707d"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
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 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:LCID",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_f707d"

}

  );

  </script> 
</div>  
<p>LCID stock price formed a bullish hammer candle on a weekly time frame. It will be interesting to see how prices react in the coming few sessions which may decide the next direction.&nbsp;</p> 
<p>The MACD curve reversing upward indicates that the downfall has taken a halt and price is preparing for the reversal. The RSI at 34 also pointing north denotes Lucid stock is highly oversold. So relief rally is a must for creating a balance between buyers and sellers.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Lucid stock price (NASDAQ: LCID)&nbsp; fell 15.45% in September and continues to erode its market capitalization. LCID stock is in a bear grip so if any short-term rally came then it is likely to face difficulty to sustain higher levels.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li><strong>Resistance levels:</strong> $6.00 and $6.46</li> 
 <li><strong>Support levels:</strong> $5.00 and $4.90</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 Price Defends $5; Will LCID Stock Reverse Upward?

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