Lucas GC Plunges 70% Intraday: What's Behind the Freefall?

Summary
• Lucas GC (LGCL) trades at $0.1549, down 70.21% from its $0.46 open
• Intraday range spans $0.1502 (low) to $0.4764 (high)
• Turnover surges 133.18% as price nears 52-week low of $0.1502

Lucas GC’s catastrophic intraday collapse has triggered panic across the Oil & Gas Equipment & Services sector. With the stock trading near its 52-week low and technical indicators flashing red, this article deciphers the catalysts behind the freefall and maps actionable strategies for traders navigating this volatile environment.

Technical Breakdown Triggers Sharp Sell-Off
The 70% intraday drop in LGCL reflects a classic technical breakdown. Price has pierced below the 200-day moving average ($0.6128) and all key Bollinger Bands (trading at $0.1549 vs. lower band at $0.4501). The negative MACD (-0.052) and RSI hovering near 50.78 signal deteriorating momentum. With the 30D support/resistance range (0.5085–0.5119) far above current levels, this appears to be a liquidity-driven selloff rather than fundamental deterioration. The 133% turnover surge confirms extreme short-term panic.

Options and ETF Strategy in a Volatile Downtrend
• 200-day average: $0.6128 (well below)
• RSI: 50.78 (neutral but bearish bias)
• Bollinger Bands: $0.1502 (lower band) vs. $0.5815 (upper band)
• Turnover rate: 133.18% (extreme)

With no options chain available, focus shifts to technical levels. The 52-week low at $0.1502 acts as critical support; a break below this would trigger stop-loss cascades. For aggressive traders, shorting against the $0.1502 level with tight stops above $0.16 could capitalize on the breakdown. The 30D support at $0.5085 represents a potential re-entry point for contrarians if the stock bounces. Given the sector leader Schlumberger’s 0.5% gain, sector divergence suggests this is a stock-specific event.

Backtest Lucas GC Stock Performance
I attempted to identify every trading day on which Lucas GC (LGCL .O) suffered an intraday draw-down of 70 % or more (low ÷ high ≤ 0.30) between 1-Jan-2022 and today (10-Sep-2025). Result: 0 qualifying days were found in the entire sample, so a post-event back-test cannot be run under the exact “-70 % intraday plunge” criterion.Why this happened 1. Daily high-low data for LGCL were downloaded and screened. 2. No day met the −70 % threshold, so the merged-event list was empty. 3. When the back-test engine received an empty event list, it returned an error (no statistics can be generated from an empty sample).Next steps – please let me know how you’d like to proceed: • Lower the threshold (e.g., −60 % or −50 %) to capture more extreme moves. • Use a different definition (e.g., single-day close-to-close drop ≥ 70 %). • Analyse another type of event altogether.Once you confirm the revised condition, I can rerun the pipeline immediately.

Act Now: Short-Term Volatility Demands Tactical Precision
The technical collapse in LGCL shows no immediate signs of abating, with all key indicators aligned bearishly. Traders should prioritize liquidity and avoid long positions until the $0.1502 support holds. Schlumberger’s 0.5% intraday gain highlights the sector’s relative stability, reinforcing that this is a stock-specific selloff. Immediate action: short against the $0.1502 level or buy puts if the stock closes below $0.15. Watch for a breakdown below the 52-week low or a reversal above $0.16 to dictate next steps.