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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.
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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
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