The price is currently confined below the red trend. As you can see there is head and shoulders pattern, positive sign. The price is currently centered under the channel. In order for the price to be freed from this area, it must break the descending trend in red. Then break the neckline shown in red. Perhaps it reaches Anchored VWAP and may give us a new bottom....
1- Previous bottom became a good resistance.
2- Very good supply level on the daily.
3- A bearish candle on the weekly.
4- Very negative bearish trend.
4 points will push the price for more decline.
138 is important technical level, if the price break it, it will push the price for more decline!
The main question what is the level will support the price to...
Lucid will hold a series of events for investors and the media at its Arizona factory next week. I expect that it will begin ramping up production of the Air shortly thereafter, but I also expect we'll get more details about its plans during those events.
Beijing Crackdown On Chinese Stocks
Investors should be aware of significant risks with investing in Chinese stocks. The authoritarian state and its regulators can impose sweeping restrictions, fines or bans on major companies, often with little notice or transparency.
That risk has been very apparent over the last several months.
Alibaba ran afoul of...