Lucid Motors - As For Me, I Like The Stock

NASDAQ:LCID   Lucid Group, Inc.
The first thing I want to remind you of is that you should buy stocks when they're low, down, and red. Stop buying things when they're green and up bigly because you "see confirmation."

If you can't let go of this attachment to only believing in what you can see and not believing until you're shown, then the Bible story of Doubting Thomas is really something to give a read.

So about Lucid Motors: As for me, I like the stock.

Here's some reality:

1. Electric cars are a real thing now
2. Tesla needs competition
3. Luxury electric cars from BMW et. al. kind of suck and there's no real demand for them
4. Lucid has cars on the road and even The Wall Street Journal gave them a thinly veiled advertorial after the Saudis infused some blood

Also, although Lucid will soon be expanding into the China market, as of now there is no manufacturing in Mainland China.

This gives Lucid significant benefits in the not-being-subject-to geopolitical risk like Tesla with its Shanghai Gigafactory located in Babylon is.

Because one day in our lifetimes, I believe Xi Jinping will throw away the Chinese Communist Party like Gorbachev did in the 90s and everything will change because the persecution against Falun Gong launched by former Chairman Jiang Zemin (it's dead now) will be totally exposed and much of the world will be implicated.

This will make life very hard for everyone who's been soliciting Shanghai (Babylon).

Moreover, right now, Lucid makes cars in Arizona and in Saudi Arabia. With the 2024 Presidential Election looming, a Donald Trump win would be huge for any "Made In America" company.

I'm not a huge fan of Trump, personally, but I think you should throw political bias away when it comes to analyzing the markets and figuring out how to invest your money/trade.

The financials for Lucid appear to indicate that spending and R&D is up. This is actually a good thing, because it's very, very hard and takes many, many years for a car manufacturer to be able to get roots down in society and become a household name.

It's going to be a "spend money to make money" kind of thing for Lucid.

Anyways, the raid on the all time lows after the Saudi announcement is a good thing.

You need to look at things backwards. Down is good if you want to buy. Up is good if you want to sell.

The last week's action is definitely bullish and you should be thinking of how to get long on a pullback.

The problem is, where can Lucid go?

At $7 it's already worth $14 billion mcap.

And unfortunately for everyone who WaNtS tO SeE a MoASsSsSSss the reality of getting one is you had a few minutes to sell the top and now the chart is a mess.

On the monthly and weekly

We can see that a healthy company would return to the $30 range.

But with that stupid MOASS candle blocking the way you really may not get anything better than $10.

I think the bear case if this is to go to $0 like MULN or some other dumpster fire coin is $15

All and all, if you go long here, can diamond hand a bit, and sell at $10 or $15, what exactly are you sad about?

Put the FUD aside and all the yammering about "the fundamentals" and ask yourself if you really want to sit on the sidelines here and watch this thing do what IONQ has done until you "see confirmation" like Doubting Thomas saw his Master's spear wound after Lord Yahweh's Resurrection.

Ultimately, I think we're going to see a pullback into the opening of July, but we need to see July rip over $8.50 for this to really be a long.

But if you want for it to do that you might wake up to find $11 and it's already too late for regrets.

Don't leave yourself with regrets.

Use faith.
Lucid has formed a proper daily pivot after retracing just underneath the original area where it dumped to start June.

This may indicate the MM has a new low ahead. Be careful with longs, at least consider hedging with puts or something.
Lucid has officially broken out of the breakdown spurred by the Saudi announcement.

The question is, does it keep going, or does it retrace?

Visitation back to the $6s without making a lower low would be the buy signal of buy signals and a great gift.
Lucid retraced to an adequate level for a buy.

And is up in prelim earnings.

But can the rally actually run?

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