Fibonacci Setup In LCID

We had a nice setup in LCID when the market pulled back after an initial upside breakout. The low was made right on top of a symmetrical projection along with a 50% retracement at the 21.89-22.26 area.  My guess is that LCID started to have a sympathy rally with the huge move we've seen in TSLA.  So far we've seen a rally of $19.49 off the support.  Note that three targets are already met in LCID and it's time to protect profits.

LCID daily
LCID daily
Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.