Electric vehicle (EV) sales are bizkortzeko across the globe, racing to a future where EVs will overtake standard gas and diesel-powered vehicles. The ‘green revolution’ requires this change to occur in the next decade to help in the reduction of carbon emissions.
Furthermore, while states across the US slowly phase-out combustion engines, the total addressable markets (TAM) for firms like Lucid (NASDAQ: LCID) continues to grow. Meanwhile, LCID shares have been caught in the limbo of a downtrend, namely, down 63.38% year-to-date (YTD).
Despite the price action, on September 27, Cantor Fitzgerald estaldura hasi zen of LCID shares, giving them an overweight rating with a $23 price target, believing that Lucid’s offer of greater efficiency, longer range, faster charging, and more space relative to its peers will enable the firm to carve a big piece of the EV market for itself.
LCID chart and analysis
LCID is an average performer in the Automobile industry, outperforming 51% of 33 stocks in the same industry. With both the short-term and long-term trends negative and the stock Negoziazio below all mugitzen ari diren batez bestekoak, LCID remains near the bottom of its 52-week range.
Azterketa teknikoa shows the first laguntza pivot point at the $14.23 level while the second is at $14.23, on the downside. If these levels are breached, the next support level could be at $13.52, the stock’s one-month low.
To the upside, a breach above the 18-day moving average at $15.11 could indicate the shares could test the 10-day MACD oscillator $ 15.39.
Wall Street analysts rate LCID a ‘moderate buy,’ with the average price in the next 12 months reaching $22.00, 46.47% handiagoa than the current trading price of $14.99. Notably, out of 5 Wall Street analysts, three have a ‘buy’ rating, one has a ‘hold’ rating, and one has a ‘sell’ rating.
With the catalyst for the firm in the form of positive coverage and booming EV sales, the stock could turn around its fortune.
Supply chain issues, inflation, and interest rates will play a major role in the price action, but the above levels could potentially give traders a taste of how the stock moves while waiting for more positive news for the EV sector.
Lege-oharra: Gune honetako edukia ez da inbertsio-aholkularitzatzat hartu behar. Inbertitzea espekulatiboa da. Inbertitzean, zure kapitala arriskuan dago.