The height of wave 3 is ultimately dependent on the strength of the bull market. To put it briefly, the more buying power comes up the more impulsive the wave 3 will form, because Elliot waves are based on the behavior of market participants, at least in theory.
If you take a look at the current Google Trends, you will see that the world is increasingly searched for Lucid Goup or Lucid Motors, and the search calls rise in parallel to the chart, this confirms my assumption that we are in an Elliot wave 3.
After the wave 3 is over, the price goes into a correction phase, the Elliot wave 4.
The corresponding correction wave 4 and its various price targets can be seen in the chart idea. The correction levels are drawn in the same color as those of the wave 3 (Click on the split symbol and select "Make mine" to scroll around in the idea)
We will discuss wave 5 as soon as wave 3 and 4 are finished ;) Because the size of wave 5, depends on wave 3 and 4. Without these waves ( mainly wave 3 ) a projection would not make sense.
Besides the Elliot waves, I am also inspired by another pattern for further rising prices, an ABC-D. Since ABC have formed so far, we have as a starting point the correction C of AB with 88.2%.
This results in A-C = 0.882
As a target determination for D we draw a Fibonacci retracement from B to C, and determine the following Fibonacci levels
At these points, counter-movements can occur, each measured from A or C to D, correcting to the following Fibonacci Levels:
23.6% 38.2% 61.8% 127.8%
Taking into account the Elliot waves, I would consider the following Fibonacci levels as maximum correction from D:
61.8% 78.6% 88.6%
For a complete analysis description please have a look at the superior Lucid Group analysis ;) You can find it here (click on the image )
If you liked this idea, I would appreciate a click on the Like button ;) If you have any questions, suggestions or a different opinion, don't be afraid to use the comment function.
Thanks a lot
Disclaimer: Please keep in mind that this is a pure analysis and only reflects what my eye shows me ;) This analysis is for informational purposes only and is scientific in nature. This analysis is not based on any fundamental data! This analysis is not an investment advice and should not be considered as a buy, sell or hold signal. Always do your own research before investing and seek the advice of a qualified person. I am not an investment advisor or similar and do not make any investment recommendation here.
Great job, Amazing, Actually I’m agree with you in all points. also on other way, LCID is still in 72B Market cup, it’s responsible to reach 10X or 15X.
Highrisk221
⋅
@Ahmed_Alshammari, I agree with them, I think if Lucid Air is successfully brought to the people, there will be no stopping ;)
Also the speculation of a cooperation with apple is not so far-fetched, should this become official then investors and owners of a Lucid vehicle should be particularly happy :D
But since I'm not so the fan of fundamentals and prefer to limit myself to the chart analysis, this always serves my price target expectations ;)
Sam6577
⋅
Amazing job same with HOOD It would be great if we could know your idea about bkkt Thanks In advance
epicdavid_04
⋅
love the analysis, one thing though, wave 4 shouldn't come near the price territory of wave 1. unless it could be making an extension of wave 3
crosschannellogic
⋅
This doesn't look right. Wave 3 does not go that high
Highrisk221
⋅
@crosschannellogic, did you come up with the idea for your chart? Use the share symbol and select "make mine".
Then you will see all possible targets of wave 3
The impulse force and therefore the target height is dependent on the market force, therefore several varrianten are possible ;)
Actually I’m agree with you in all points. also on other way, LCID is still in 72B Market cup, it’s responsible to reach 10X or 15X.