BIG Week Ahead for Lucid 🔥 RiyadhSeason Extends Lucid Partnership │ Important Updates
Overall Thesis
A quiet macro week is technically driven for Lucid with the $3.50 level as the key pivot; Riyadh Season extended its Lucid partnership, and the speaker is cautiously optimistic Lucid can break through $3.50 by week end on retail sales data or Netflix earnings.
Narratives
A quiet macro week means Lucid's near-term direction depends primarily on technicals and earnings from select companies. Riyadh Season extended their Lucid partnership for another year — positive marketing exposure. The $3.50 mark is both the 50-day moving average and a strong options wall, making it the key pivot. Speaker anticipates an initial failed run at $3.50 early in the week, but thinks Lucid can break above it toward week end (possibly on retail sales data or Netflix earnings). Q3 earnings are 2-3 weeks out.
Key Arguments
- Riyadh Season extended Lucid partnership another year — strong Saudi market marketing exposure
- Elliot Wave: if Lucid breaks above $3.76, target is $4.29-$4.49; if below, $2.60-$2.79 range
- Fear and greed index in greed territory — people's appetite for risk supports a breakout
- Retail investors increased position 8.21% in Q3 per 13F; institutions down 3.26%
- One analyst removed their very bearish estimate — raised consensus revenue estimate to $182M