LAZR Stock Analysis: Breaking Out of the Wedge but with a Rising VIX Candlestick Ninja

In this video, we take a deep dive into the recent price action of Luminar Technologies (Ticker: LAZR). After a prolonged period of suppression due to a low VIX and forward-looking markets, LAZR has seen a significant pop, driven in part by news surrounding Tesla as one of their largest customers. Despite a small miss on earnings, the stock has broken out of its January 2023 to present falling wedge.

I previously discussed hedging LAZR and other long positions with UVIX/UVXY/VXX and SQQQ calls with 2-3 week expirations. In this update, we analyze the formation of a higher-order bull diamond after a dip below the interim wedge. Observing multiple intraday candle closes above $2.30 will be crucial to invalidating the negation pattern and confirming the breakout. Once cleared, the next resistance zones to watch are $2.75-$3.00, which could lead to a short squeeze given the high short interest and dark pool activity.

Remember, this content is for informational and educational purposes only and should not be considered as financial advice.

Handles:
📈 TradingView: CandlestickNinja
🎥 TikTok: @candlestickninja
📘 Facebook: CandlestickNinja
🔗 Rumble: CandlestickNinjaTV
📬 Stocktwits: Candlestickninja
▶️ YouTube: CandlestickNinjaTV
💼 LinkedIn: CandlestickNinja (Coming Soon!)

Stay tuned for more technical analysis and updates!

As always, these are for informational and educational purposes only - never are my communications recommendations!

#LAZR, #LuminarTechnologies, #Tesla, #ShortSqueeze, #TechnicalAnalysis, #TA, #StockMarket, #CandlestickNinja, #VIX, #Earnings

My #Tradingview Chart: https://www.tradingview.com/chart/LAZR/AnoqbOZy-LAZR-Stock-Analysis-Breaking-Out-of-the-Wedge-TRYING/

#Shortsqueeze Info: https://fintel.io/ss/us/lazr