Lucid Stock Price Up 15% in 5-Days – Can Lucid Target Beyond $20?

Lucid stock price is on the rise with a gain of more than 15% in the ongoing rally, escaping an interesting declining pattern.
Lucid Inc (LCID) stock has started gaining in the pre market session on Wednesday and LCID shares have gained 0.24% already.
Lucid stocks might continue its surge by the opening of Wednesday’s trading session.

Lucid stock price is continuing the surge from the last five trading sessions and gained 15%, might recover maximum towards $20 by mid 2023. LCID shares need to maintain the current upside trend in order to continue its surge towards the primary resistance level. Meanwhile, analysts believe Lucid stock price might recover towards the $20 if it sustains above the primary resistance level over the daily time frame chart.

Lucid share price must maintain the current accumulation rate in order to continue its recovery towards the primary resistance level of $8.93. Meanwhile, analysts also confirm the fact regarding maximum recovery of LCID shares during 2023. In addition, Lucid stocks have gained around 3.14% in a week which proves the facts regarding LCID share’s maximum recovery.

Lucid stock price was at $8.19 and has gained 6.36% of its market capitalization during Tuesday’s trading session. Trading volume is still below average and needs to grow during Wednesday’s trading session. This demonstrates that buyers need to exceed their accumulation rate for Wednesday’s trading session.

Lucid stock price might recover maximum as suggested by analysts of an esteemed financial organization. Lucid share price must maintain the uptrend momentum from the current pre market session of Wednesday. This accumulation rate might get reflected during Wednesday’s trading session for LCID shares to keep soaring over the charts.

Lucid share price is trying to recover till 20-EMA in order to reach the 50, 100 and 200-days Daily Moving Average. LCID stock price needs to break out from the primary resistance level of $8.93 and reach $11.73 to march towards the $20 recovery level by mid 2023.

Lucid stock price has gained around 3.41% in a week and the quarterly report of Lucid shares is also positive with growth of 10.83% in the last three months. LCID share price has recovered $17.50 year to date confirming the facts regarding Lucid’s maximum recovery during 2023.

Lucid Stock Price: Technical Indications Hinting Maximum Recovery!

Technical indicators suggest the uptrend momentum of Lucid stock price. Relative strength index showcases the upward momentum of LCID shares. RSI was at 45 and is heading towards neutrality to be overbought.

MACD exhibits the upward velocity of Lucid stock price. The MACD line is crossing the signal line upwards, registering a positive crossover. Investors in Lucid stocks need to wait until LCID share price breaks out from the primary resistance level and reach towards the secondary.

Summary

Lucid stock price is continuing the surge from the last five trading sessions and gained 15%, might recover maximum towards $20 by mid 2023. Lucid share price must maintain the current accumulation rate in order to continue its recovery towards the primary resistance level of $8.93.

Lucid share price is trying to recover till 20-EMA in order to reach the 50, 100 and 200-days Daily Moving Average. Technical indicators suggest the uptrend momentum of Lucid share price.

Technical Levels

Resistance Level: $8.93 and $11.00

Support Level: $7.50 and $7.30

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 stock 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