$LCID Important Levels to Watch

Afternoon Everyone!

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

I have intentionally excluded Moving Averages on the chart this time as we all have an idea what and where they are. Currently 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.

Thanks!