Lucid set to become penny stock as death cross solidifies downtrend

Lucid (NASDAQ: LCID) has become something of a posterchild for the troubles facing West-based electric vehicle (EV) makers that are not Tesla (NASDAQ: TSLA).Not only has LCID stock done little else than decline in 2024 and beyond, but technical analysis (TA) of the shares now signals an even greater downtrend to come.Specifically, on the evening of Thursday, November 14, Lucid formed its first death cross chart pattern since 2022. The death cross is a technical analysis signal that forms when the short-term ...