$LCID Important Levels to Watch

NASDAQ:LCID   Lucid Group, Inc
Afternoon Everyone!

It is just and update on my last two posts on NASDAQ:LCID .

I have intentionally excluded Moving Averages on the chart this time as we all have an idea what and where they are. Currently NASDAQ:LCID is trading below the 50 SMA . Which is a bearish spot in short term.

Having said that, I think the stock has an upward potential. It might be forming a Neutral Wedge in short term. For an upward break though we need to watch the 4 AVWAP lines on the chart marked as red. This is along the thesis that I had previously. We need to deal with these lines to break out of the wedge .

I hope the update helps you all next week. Have a great weekend.