Lucid Group Inc (NASDAQ: LCID) Roadmap To $20

Lucid stock price tried to get ahead with the gains from January but couldn’t sustain and Lucid (NASDAQ: LCID) stock slipped instead.
Lucid Group, Inc. (NASDAQ: LCID) stock price has been trying to negate the downtrend momentum and has been trying to surge avoiding this gap down market.
Lucid share price might try for $20.00 if it breaks out of the $10.00 resistance level and sustains above $13.00 to reach $20.00.

Lucid stock price has been trying to surge from the lowest level to recover itself towards the $20.00 recovery level over the charts. However, Lucid share price tried to surge towards the upper recovery level on 27 January but couldn’t remain at $17.82 and got rejected from the resistance level. Lucid share price has dropped below 20, 50, 100 and 200-days Daily Moving Average.

Meanwhile, LCID shares hold the potential to rally from the current level while it has already showcased the potential within. LCID stock price needs to break out of the primary resistance level of $9.00 and must recover above $10.00 to initiate its rally for $20.00.

Lucid stock price was at $8.76 and has gained around 2.94% of its market capitalization during Monday’s trading session. However, trading volume can be seen below average and needs to grow during Tuesday’s trading session for Lucid share price to start its recovery phase.

Lucid stock price has been slipping since the start of 2022 and managed to get support from $6.12 lowest level. LCID stock price tried to surge towards the recovery level while slipping after testing the $17.82 but LCID has showcased its potential to rally during 2023.

In addition, analysts also believe that LUCID stock price might initiate its rally by mid 2023. Analysts also speculate that LCID stock price might reach $20.00 if it sustains above $10.00.

Roadmap for Lucid Stock Price to Reach $20:

The roadmap that LCID share price might follow is mentioned below, however investing in market might be tricky for some investors and would suggest them to think and invest very cautiously as there are many factors which might directly or indirectly affect the price action of the shares:

At first Lucid stock price may initiate its recovery after breaking out of the primary resistance level of $10.00. Meanwhile, if LCID share price sustains above $10.00 and might consolidate for a while then it may recover from there to recover towards the $15.00.

If Lucid share price sustains above $15 and continues its soaring momentum to surpass the $17.82 resistance level to reach the $20.00 recovery level. So far we have highlighted the upcoming milestones for LCID stock price to reach $20.00 the final milestone by the end of 2023.

Lucid stock price has lost around 17.24% during last week and 2.56% in a month. Moreover, the quarterly report of LCID shares has also been negative with 12.84% of total loss in its market capitalization.

However, the most positive news for Lucid shares investors is that the Lucid share price has recovered around 25.68% Year to Date. This signifies the upcoming recovery of LCID shares during 2023.

Technical Analysis of LCID Share Price

Technical indicators are pretty divergent over the price action of Lucid stock price. Relative strength index showcases the upside trend of LCID share price. RSI was at 41 and has been trying to recover towards neutrality.

MACD on the other hand indicates the downtrend momentum of LCID share price. The MACD line is below the signal line after a negative crossover. Investors in Lucid stocks need to wait until the LCID shares follow the recovery rate and the mentioned roadmap.

Summary

Lucid stock price has been trying to surge from the lowest level to recover itself over the charts. LCID stock price needs to break out of the primary resistance level of $9.00 and must recover above $10.00 to initiate its rally for $20.00. However, the most positive news for Lucid shares investors is that the Lucid share price has recovered around 25.68% Year to Date. Technical indicators are pretty divergent over the price action of Lucid stock price. Investors in Lucid stocks need to wait until the LCID shares follow the recovery rate and the mentioned roadmap.

Technical Levels

Support Levels: $8.10 and $7.50

Resistance Levels: $10.00 and $13.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing