Lucid Group, Inc (NASDAQ: LCID) A potential bullish reversal to the upside after breaking out of the downtrend as:   

1. The formation of a bulish morning star candlestick pattern on 4 October at the double bottom support level of 13.50 while breaking out of the downtrend resistance line concurrently points towards a bullish upside.
2. The Moving Average Convergence Divergence (MACD) technical indicator is displaying increasing momentum where the MACD line made a bullish crossover over the Signal line.
3. The price could reach the resistance level at 17.65 which is confluence of the 50% Fibonacci retracement level resistance, with the swing high of 21.78 and swing low of 13.52 as points of reference.

*Expected timeline of the trade is 13 weeks from the date of report issuance.

CHART LEGEND

Red box = Resistance zone

Green box = Support zone