LCID Rally To $20? – EV Stocks Canoo and Lucid Stock Price Pumped on Thursday

• Canoo stock price and Lucid stock price both got a jump opposing the declining confidence of investors.
• Lucid Stock price is ready to break out of an interesting falling channel and initiate its recovery phase.
• This article will provide you the insights over Canoo stock price, Lucid Stock price and some interesting facts over Canoo, Lucid and Tesla.

Lucid stock price and Canoo stock price both got a jump on Thursday and analysts also predict the recovery phase for EV stocks. Canoo Inc (NASDAQ: GOEV) shares have slipped till the lowest level and have fallen below 52-Weeks low. However, GOEV stock price might initiate its recovery phase with a strong upside trend, suggest analysts. 

Lucid stock price has been slipping through an interesting declining channel but it looks prepared to break out from the channel this time. Lucid Group Inc. (NASDAQ: LCID) share price might initiate its rally if it escapes the falling parallel channel and recovers till $10 price level.

Canoo Inc (NASDAQ: GOEV) stocks have dipped maximum due to the struggling phase among other EV utility providers. Lucid stocks on the other hand had an interesting roller coaster ride as LCID shares at first recovered till $17.88 resistance level. Then got distributed to slump through the descending parallel channel. 

Analysts speculate that Canoo inc’s GOEV stock price might recover above $1.00 if it sustains above $0.75. Moreover, Lucid motors stock price might recover maximum during 2023, added analysts.

The Electric Vehicles industry has been experiencing some sort of low confidence motion lately. People are trying to adapt the EVs and utilize the products from Canoo Inc, Lucid, Rivian, Tesla etc.

More About Canoo Inc (NASDAQ: GOEV) and Lucid Group Inc (NASDAQ:LCID):

American electric vehicle (EV) manufacturers Canoo Inc. and Lucid Group have drawn attention in the automotive business for their cutting-edge designs and technology.

Canoo Inc. was established in 2017 and has its headquarters in Los Angeles. Instead of conventional car ownership, the business is concentrating on developing electric vehicles for subscription-based services. The Canoo MPDV is a multipurpose delivery van created for last-mile deliveries in urban regions and is Canoo’s first vehicle.

The Lucid Group, on the other hand, is a Newark-based company that was first established in 2007 as Atieva. The business originally concentrated on creating battery technology for EVs but later shifted its attention to creating opulent EVs. 

The Lucid Air, the company’s first car, is a high-performance luxury sedan with a number of cutting-edge features like a highly effective powertrain, quick charging capabilities, and cutting-edge driving assistance systems. The Lucid Air, which was introduced in 2021, has drawn praise for its outstanding performance and opulent interior.

The development of electric cars with distinctive designs and cutting-edge technology is a rising trend in the automotive industry that is being embraced by both Canoo Inc. and Lucid Group. It will be fascinating to see how these two companies, along with others (Rivian, EVGO, GEVO, Tesla etc.) in the EV sector, continue to innovate and compete as the market for electric vehicles grows.

Lucid Stock Price: Exclusive Technical Analysis

Let us move on to the exclusive technical analysis of Canoo Inc (GOEV Stock Price) and Lucid Group Inc (LCID Stock Price):

Lucid motors stock price has been trying to break free from the declining pattern but couldn’t sustain at the upper trendline. However, this time LCID stock price might register its breakout from the channel.

Lucid stock price was at $7.83 and has gained 5.81% of its market capitalization during Thursday’s trading session. However, trading volume was still below average and must grow during Friday’s trading session.

Nevertheless, Lucid motors stock price has slipped below 20, 50, 100 and 200-days Daily Moving Average. Lucid stock price must surge towards the 20-days EMA to initiate its recovery phase over the daily time frame chart. 

Lucid stock price has gained around 12.34% year to date. This confirms the facts regarding LCID shares maximum recovery during 2023. Moreover, the quarterly report of Lucid stocks is also positive with around 5.74% growth rate.  

Technical indicators suggest the upside trend of Lucid stock price. Relative strength index showcases the upward velocity of Lucid stock price. RSI was at 39 and is trying to reach above neutrality. 

MACD exhibits the upward velocity of Lucid stock price. The MACD line is moving towards the signal line for a positive crossover. Investors in Lucid Group Inc, need to wait until the Lucid motors stock price breaks out of the declining parallel channel over the daily time frame chart. 

Technical Levels

Support Level: $7.20 and $6.50 

Resistance Level: $8.50 and $10.00 

Lucid stock price prediction 2025 and Lucid stock price prediction 2030 do suggest an interesting price range to be attained by Lucid stock price till 2030. 

Bullish Scenario: If Lucid Group Inc continues to grow with the help of upcoming innovations and capture a large number of market capitalization in the EV industry, and if the market conditions remain the same in the favor of growth of LCID shares then Lucid stock price might potentially reach the price range of $56.12 – $80.00 by 2025 and may continue the uptrend to reach the price range of  $300 – $400 by 2030.    

Canoo Stock Price: Exclusive Technical Analysis

Now let us move on to the technical analysis of Canoo Stock Price (NASDAQ: GOEV):

Canoo stock price has been trying to initiate its recovery but couldn’t do so and has slipped maximum. GOEV stock price must sustain at the current level to return towards its recovery above $1. 

GOEV stock price has surged around 4.20% in Thursday’s trading session. The price of Canoo stock was at $0.5900 on Thursday.    

Canoo stock price on the other hand might initiate its recovery as it has already slipped the most around 34.53% in a month. 

Technical indicators suggest the recovery of Canoo stock price from oversold territory. Relative strength index showcases that GOEV stock price is trying to be neutral from being oversold. RSI was at 29 and might enter neutrality on Friday’s trading session. 

MACD exhibits the upside trend of GOEV share price. The MACD line is crossing the signal line upwards, registering a positive crossover. Investors in Canoo Inc need to wait until the Canoo stock price properly adapts the uptrend momentum. 

Technical Levels

Support Level: $0.55 and $0.50 

Resistance Level: $0.75 and $1.05

Tesla Inc, Canoo Inc and Lucid Group Inc – The Trilogy

Tesla, Lucid Group, and Canoo Inc. are all businesses that work in the electric car sector. Each business, however, has a distinct strategy and emphasis all its own.

A startup company called Canoo Inc. creates and produces electric cars for both consumers and commercial use. The company’s main goal is to develop adaptable, sustainable, and innovative transportation options that can be tailored to a variety of needs. An electric pickup vehicle and an electric van are currently available from Canoo.

A luxury electric car maker, Lucid Group is known for producing expensive, high-performance vehicles. The Lucid Air, the brand’s top-of-the-line luxury sedan, has a range of up to 517 miles on a single charge and remarkable acceleration. 

The world’s most well-known maker of electric vehicles is Tesla. Since its founding in 2003, the business has grown to be a significant force in the automobile sector. The impressive range, quick acceleration, and cutting-edge technology of Tesla cars are well-known. Tesla manufactures solar panels, batteries, and energy storage devices in addition to electric vehicles.

Overall, despite the fact that all three businesses are focused on electric cars, they each have a distinctive strategy and target audience. While Tesla is renowned for its cutting-edge technology and wide variety of products, Canoo focuses on developing adaptable and sustainable transportation solutions, Lucid on high-performance luxury cars.

Summary

Lucid stock price and Canoo stock price both got a jump on Thursday and analysts also predict the recovery phase for EV stocks. Lucid stock price was at $7.83 and has gained 5.81% of its market capitalization during Thursday’s trading session.

Canoo stock price on the other hand might initiate its recovery as it has already slipped the most around 34.53% in a month. Tesla, Lucid Group, and Canoo Inc. are all businesses that work in the electric car sector.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.