LAZR outperformed the sector and market on Tuesday on the
back of some speculation linking to TSLA, lets see can that carry through today.
The 20ma held strong yesterday as support.
Rising trendline well respected.
Volume also increased impressively .
Sloping downtrend is first major obstacle.
Fibonacci Golden pocket will then be second target.
LAZR's Lidar technology is a potential game changer. It can have far-reaching impact on numerous industries and it has numerous applications such as autonomous vehicle, drone and robot...etc. The addressable market will only continue to grow in the foreseeable future as the adoption rate accelerates.
That being said, autonomous vehicle is still at least 5 to 10...
Only a buy if it trends down towards the bottom of this triangle and changes the trend back to the bulls
Buy point green line
Stop loss below orange line
Profit Targets are at blue lines
Possible move:95%
Reward/Risk: 5 (R/R>3 is Ideal)
Time frame: 1-2 wks
This is just my technical view, not a fundamental comment..!
I can make you confused you by a crowded messy chart, but I would rather simple effective presentations..!
LAZR's hot run is on pause. However, there was a huge price action Friday close to AH.
I would think that this name will stay in range for awhile. Especially, after being Citroned...
LAZR got shorted so much that the stock price has nearly bottom.
Lotto Play :
Small position around 24,80-25
PT : 26,61 would confirm a potential reclimb.
2nd PT : 29 we could see some resistance and
above 30 you should be out.
Once again a parabolic move comes to a very abrupt end as those high profile Analysts & commentator's dump when the their bank account is full.
Today we may see a reversal as the stock bounces off the Fibonacci Golden pocket.
trade with care and take it all at face value,
Watch for the MA's and Fibonacci retracements levels as resistance
Tapping 50 SMA on the 15 min chart , rejection off fib after a long pull back
might be setting up for another rally
Looks a lot like the QS chart from a few days ago
Elliot waves 1,2,3,and 4 visible -- 5th wave inc
Here Time Frame = 1D, the Flag pattern is almost formed, and after its breakout, the target of this pattern will be executed, equal to its "leg", the size of which exactly coincides with the Fib level 1.618 (70.77)
Potentially observe the area around 25 for a reversal of the sell off. The price already may be oversold and there is a potential to capture 20-40% gains. Stock is volatile so exit at price targets and stick to your stops.
Luminar is the leading autonomous vehicle and lidar technology company for consumer cars and trucking. Luminar is partnered with 7 of the top 10 global automakers and is set to power the introduction of highway self-driving and next-generation safety systems. Shares of the combined Luminar Technologies (LAZR) and Gores Metropoulos (GMHI), a special purpose...
