LCID | Bearish continuation - little hope for bullish reversal
BULLISH INDICATOR (Sep 07)
1. No sign of bullish reversal in near future.
2. A strong support channel present between 5.49 and 6.09.
3. If bullish divergence would be seen and price breaks out of the Falling Wedge pattern, in upward direction then there might be hope for bullish move/recovery.
BEARISH INDICATOR (Sep 07)
1. A sequence of LLs, LHs and negative momentum is expected.
2. A solid bearish trend line is obvious on its charts.
3. Two chart patterns are visible:
a. Falling Wedge (Reversal Pattern). If any bullish divergence would show up then this reversal pattern could play and LCID could move in bullish direction.
b. Descending Triangle (Bilateral Pattern). In the absence of bullish divergence bearish wedge is further expected.
c. Price can break in both directions. For bullish move, company needs to show YoY revenue, positive cash flows and improving net profits.
4. Price action is below 200-EMA and positions must be liquidated.
PREDICTIONS
1. Stock is available at a very economical price but LCID's fundamentals do not currently show a Rosey picture.
2. There are more bearish signals than bullish.
3. For a bullish reversal, a bullish divergence is required on RSI, and price need to move upward and crosses 9.3, for a confirmation of a bullish reversal.
4. If you hold LCID, then sell them now or maybe put a stop loss at 5.35.
5. If you want to buy LCID, then wait till price crosses crosses 9.3 in upward direction.
BIAS 1 = SHORT- PLAN A (Now @ Market)
BIAS 2 = BUY- PLAN B, (@ Buy Stop at 9.3 and SL 5.35)
1. No sign of bullish reversal in near future.
2. A strong support channel present between 5.49 and 6.09.
3. If bullish divergence would be seen and price breaks out of the Falling Wedge pattern, in upward direction then there might be hope for bullish move/recovery.
BEARISH INDICATOR (Sep 07)
1. A sequence of LLs, LHs and negative momentum is expected.
2. A solid bearish trend line is obvious on its charts.
3. Two chart patterns are visible:
a. Falling Wedge (Reversal Pattern). If any bullish divergence would show up then this reversal pattern could play and LCID could move in bullish direction.
b. Descending Triangle (Bilateral Pattern). In the absence of bullish divergence bearish wedge is further expected.
c. Price can break in both directions. For bullish move, company needs to show YoY revenue, positive cash flows and improving net profits.
4. Price action is below 200-EMA and positions must be liquidated.
PREDICTIONS
1. Stock is available at a very economical price but LCID's fundamentals do not currently show a Rosey picture.
2. There are more bearish signals than bullish.
3. For a bullish reversal, a bullish divergence is required on RSI, and price need to move upward and crosses 9.3, for a confirmation of a bullish reversal.
4. If you hold LCID, then sell them now or maybe put a stop loss at 5.35.
5. If you want to buy LCID, then wait till price crosses crosses 9.3 in upward direction.
BIAS 1 = SHORT- PLAN A (Now @ Market)
BIAS 2 = BUY- PLAN B, (@ Buy Stop at 9.3 and SL 5.35)