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JohnMuchow
Dec 31, 2020 5:32 PM

LAZR: Coil / VCP with Volume Drying Up Long

Luminar Technologies, Inc.NASDAQ

Description

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.
Comments
StrawberryMan2
Good explanation on the image. That one never worked out though. Nothing is 100%
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