(Finance) – A decidedly positive session for Lucidwhich is trading up 6.19%.
The electric car maker’s majority shareholder, the Public Investment Fund of Saudi Arabia, said it would inject up to $1.5 billion: $750 million through the purchase of convertible preferred shares and $750 million through a credit line.
Weekly analysis of the stock compared to Nasdaq 100 shows a weakening compared to the index in terms of relative strength of Lucidwhich is doing worse than the reference market.
The technical framework of Lucid signals an extension of the negative trend line with a drop to the support seen at 3.007 USD, while on the upside it identifies the resistance area at 3.382. Forecasts are for a possible further decline with a target set at 2.829.