🚀 LAZR Luminar Technologies Update - May 6th, 2024: Earnings Surprise Ahead! 🚀

Get ready for an exciting week ahead with LAZR Luminar Technologies! We're seeing the upside earnings surprise being priced in, coupled with a massive falling wedge that's about to break out above $1.70 and then soar to $2.00-$2.20 on the second wedge.

LAZR Analysis 5.5.24-5.7.24:
Earnings may be the catalyst for this breakout, but that's not all. I've also identified a weekly diamond pattern, indicating a perfect storm for a rise. Watch out for any gap downs below $1.68 (we saw $1.51-$1.52 after hours) - these are just shakeouts orchestrated by market makers. Stay strong and don't let them fool you!

Short Ratio as of May 5th, 2024, is at 22 days to cover or more, with short interest vs float/outstanding at 25% or more. Dark pool off-exchange trading is over 50%. We're on the brink of something big, and I'm more convicted on this trade than anything else I hold!

Bolstering LAZR Bull Sentiment:
Remember, we're also keeping an eye on the VIX, which further supports our bullish stance on LAZR. As the VIX falls, the stage is set for heightened bullishness in stocks like LAZR. The VIX's decline indicates decreasing volatility and rising confidence in the market, both of which are favorable for LAZR's upward trajectory.

Reference: Today's S&P500 (#SPX) #technicalanalysis FOR 5.6.2024 (Week Ahead): https://www.tradingview.com/chart/SPX/Cy8qYahX-S-P-500-SPX-May-6th-Week-Ahead-Bullish-Harami/

Reference: #VIX Projection/Bias until sub $12: https://www.tradingview.com/chart/VIX/8afEp4vQ-A-walk-the-VIX-Memory-Lane-may-be-most-beneficial-to-any-trader/

Reference: #shortinterest figures are well within high #shortsqueeze probability! https://fintel.io/ss/us/lazr

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Disclaimer: For informational purposes only. Not financial advice. Trade at your own risk.

📉 #LAZR, #LuminarTechnologies, #EarningsSurprise, #FallingWedge, #StockAnalysis, #BullishTrend, #ShortRatio, #DiamondPattern, #TechnicalAnalysis, #TA