Trading-Economist

$LCID A follow up on Lucid Motors

Long
NASDAQ:LCID   Lucid Group, Inc
Congratulations to all who have been trading NASDAQ:LCID on the first day! This write up is a mid-day follow up on the idea that I posted yesterday on CCIV or LCID.

So far NASDAQ:LCID has successfully broken the Anchored VWAP around $25.15 price level. In the morning session it broke above AVWAP's at $27.32 and $28.80 levels but could not stay above them. It will be crucial for LCID to break above these two levels tomorrow (or even in the Afternoon session) if we are looking into price targets such as $32.72 and above.

It is also a good sign that the stock is trading above the 21 day EMA and AVWAP's from both recent high and low. Technically, all 3 of these value areas should work as support in coming days. The progressive increase in Volume in last couple of days is also an important indicator to consider.

I hope this helps you all with the perspective and making good trading decisions.

Thanks!
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