LCID broke up strongly from a base formation on 28 Oct, breaking not 1 but 2 resistences @ 28.50 and 33 respectively. A retest of the near term resistence-turned-support at 33 on 1st Nov would have been a great opportunity to stake. Going forward 33.0 should be a rather strong support and I think a retest of 28.50 is probably unlikely.
This kind of chart has a potential to be a multi-bagger (however, please don't mistake potential for guarantees!). I would also prefer to see higher than average volumes that can sustain for the the next couple of months at least.
At current levels I would stake only half positions and be prepared to dollar cost average if it does retest around 33. In the "unfortunate" event that the stock crashes back to 28.50, then we need to analyse if it would continue to be an opportunity to dollar cost average.
Watch out for earnings expected to be out on 15th November.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
This kind of chart has a potential to be a multi-bagger (however, please don't mistake potential for guarantees!). I would also prefer to see higher than average volumes that can sustain for the the next couple of months at least.
At current levels I would stake only half positions and be prepared to dollar cost average if it does retest around 33. In the "unfortunate" event that the stock crashes back to 28.50, then we need to analyse if it would continue to be an opportunity to dollar cost average.
Watch out for earnings expected to be out on 15th November.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.