PlayTheTrade

LAZR: Coil / VCP with Volume Drying Up

Long
NASDAQ:LAZR   LUMINAR TECHNOLOGIES INC
The concept of tightening price action, lower highs and higher lows, along with volume declining, will often lead to a breakout that follows in the direction of the prior trend. William Jiler in 1962 referred to this as a coil. Mark Minervini describes similar price action as a volatility contraction pattern ( VCP ). It is also known as a symmetrical triangle.
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