Trading idea: LCID

On the two-day chart, we see a successful diagonal break in addition to a reverse head and holders with a hesitant breakout on the net. Strong technical pattern, but confirmation requires a daily clause with a retest of the nek. Respected resistance in the area around 0.5 per fibo ($ 20.60) and 50 MA with subsequent correction to 38.2 (19.19). Resist levels are – 22.58 / 24.73 / 28.20

Alternative: Strong reject of 50 MA and return of the price to previous low levels in the range – 16.93 / 13.47

Strong support zone for the Weekly range chart around $ 17.23 per share. TD Seq has started a cycle of upward trend and has so far reached 2. DeM in a one-month consolidation confirming a potential upside for the company.

50% of bank traders are long, which is positive for PE and the 12-month target remains

Profits are expected to increase in Q3-Q4.

EPS is growing, which is starting to affect the price over the past few weeks.

Lucid Group, Inc. is an American manufacturer of electric vehicles. & nbsp; The company was founded in 2007. Deliveries of the Starter Edition were delivered to the first group of 20 reservation holders on October 30, 2021. They recently announced a partnership with Saudi Arabia for production with a capacity of 155,000 units. The company is expected to increase its capacity to produce 500,000 EVs and $ 3.4 billion in Saudi funding over the next 15 years.