I will be entering a $LCID 2/18 36P @ 3.1 as a technical and fundamental trade.
Share lockup expires on the 19th, meaning over one BILLION shares will be unlocked and have the ability to be sold on exchanges, adding immense downward pressure.
Furthermore, we're at the top of our rangebound channel, meaning a technical rejection is highly probable.
To top it all off, the market is incredibly weak and choppy at the moment, adding increased downward pressure on the stock.
Will look to add to my position if conditions are favorable come Tuesday. Setup is invalidated above 45.
Share lockup expires on the 19th, meaning over one BILLION shares will be unlocked and have the ability to be sold on exchanges, adding immense downward pressure.
Furthermore, we're at the top of our rangebound channel, meaning a technical rejection is highly probable.
To top it all off, the market is incredibly weak and choppy at the moment, adding increased downward pressure on the stock.
Will look to add to my position if conditions are favorable come Tuesday. Setup is invalidated above 45.