MomentumTradingHQ.com Featured Stock for the Week of 1/29/24 - 2/2/24 : Lucid Group (LCID) Day Trade Return of 22.4% on Monday 1/29/24

Shares of luxury EV maker Lucid Group (LCID) jumped nearly 25% last week, thanks to a few catalysts. Ma'aden Rolling, a subsidiary of Saudi Arabian Mining Co., announced on X that it struck a new agreement with Lucid to supply aluminum sheets to the latter’s U.S. plants. A Drive Tesla report also said that Lucid will likely roll out a security vehicle specifically for the Saudi police. Incidentally, Lucid is majority-owned by Saudi Kingdom's sovereign wealth fund.  (Ref: Benzinga Newswire 2/3/2024)

Our real time alert services picked up LCID's unusual stock and option volume early Monday morning. Several opportunities presented themselves to get in to capture a portion of the return depending on your favorite momentum indicator. NOTE: At the time of the alerts there wasn't any news but yet the alerts caught the majority of the move for the week!!

As shown in the chart below, a day trade entered at 8:45 am CST Monday and closed at the end of the day would have gained 22.4%. The chart shows the indicators that were triggered as well as the time.

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